2014 Year In Review Reston Home Sales: Golf Course Drive/Sarazen

2014 YEAR IN REVIEW

                          And projections for the immediate future…………

B0000424 copy

                          GOLF COURSE DRIVE/SARAZEN…Reston, Va.

 Overall Market ReviewThe local real estate market may be undergoing a significant shift from recent years. The RayMaxTeam Year in Review reports for 2011, 2012, and 2013 all cited much stronger underlying fundamentals than was generally predicted at that time, citing many forces which would drive prices much higher than consensus forecasts. Naysayers could us polyannahs, but the RayMax forecasts proved more accurate. For the first time since 2009, this annual review is citing caution for those expecting big price appreciation for the market in the upcoming year, especially the first half of 2015. The yellow light is on, not red and not green: I welcome any discussion on this topic and feel free to contact me at any time.

A Review of 2014 Sales and Projections For 2015 – There were eleven sales reported on the MLS for the neighborhood in 2014. They are listed below. It is often difficult to draw broad-based conclusions, given the difference in individual circumstances surrounding each sale. However, “on the ground” professionalism combined with actual raw data yields better awareness than either of the two in isolation. In 2014, given the completion of the new local Metro stop and a general increase in pricing at the end of 2013 and into early-2014, it was expected that prices would rise smartly and begin to break through the $500,000 level by year end. Unfortunately, several listings came to market at prices below previous sales, and positive price momentum was broken.

Projection for the Immediate Future Sales and Pricing There are external events which could dramatically impact sales in 2015, the most significant being the Northwest Mutual attempt to re-zone the golf course. It is imperative for residents to have their voices heard, and bodies seen, at the Rescue Reston events in January fighting this re-zoning attempt. If this threat is lifted, there is no reason why prices should remain at depressed levels. This neighborhood is a hidden gem at current price levels. Subsequent to creating this report, an end unit extended home with 4 bed rooms and 2,250 square feet sold for $500,000 ($222/square foot). A 3 bed room, 1,491 square foot home at 2015 Golf Course Drive went under contract with a list price at $378,000.

2014 Sales:

Date Sold Address Price Sq. Ft. $ / Sq. Ft BR/bath
January 2168 GCD $432,000 1,919 $225 3/2.5
January 2204 GCD (End) $499,000 1,949 $256 3/3.5
February 2200 GCD $367,500 1,822 $202 3/2.5
April 2002 GCD $441,500 1,914 $231 3/3.5
April 2157 GCD $480,000 1,919 $250 3/2.5
April 2214 GCD $406,000 1,919 $212 3/2.5
April 2115 GCD (End) $485,500 1,926 $252 3/3.5
July 2013 Sarazen $419,900 1,491 $281 3/2.5
May 2025 GCD $453,250 1,822 $249 3/2.5
June 2003 GCD $377,000 1,822 $207 3/2.5
July 2161 GCD $423,000 1,919 $220 3/3.5

 

                                                                  

 

 

 

 

         Seeking a more detailed discussion on this report?

 

         Looking for a true market analysis of your home?

 

         Thinking of listing in 2015, and seeking to have it promoted as a high- end home   in a unique, high end neighborhood should be promoted?

 

                                                            Ray Wedell, Realtor

                                                Chartered Financial Analyst, CFA

                                                              RE/MAX Gateway

                                                 www.RayMaxInternational.com

                                                                  703-855-7299

                                                        raymaxteam@gmail.com

 

Advertisements

About RayWedellRealEstate

Real estate professional with Samson Properties. Chartered Financial Analyst, CFA
This entry was posted in 2014 real estate sales Reston, Golf Course Drive Reston, Golf Course Drive sales, RayMaxInternational, RayMaxReston, RayMaxTeam, Rescue Reston, Reston real estate and tagged , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s