—2014 YEAR IN REVIEW—
And projections for the immediate future ——WATERHAVEN——
Overall Market Review – The 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 called 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 Waterhaven Sales – There were four sales reported on the MLS in 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. The last home to go under contract was in July, 2014.
Projection for the Immediate Future: Sales and Pricing – Waterhaven is in a prime location within a growth market. Nestled neatly near Lake Anne, Hidden Creek Country Club, and only a mile from the Reston Town Center, these large, well-constructed town homes should be in high demand going forward. The early part of 2015 may provide challenges, as prices throughout Northern Virginia have been trending softer. However, this is an excellent neighborhood and will show good relative strength in coming years.
2014 Pond View Sales:
Date Closed Address Price Sq. Ft. Price/S.F. BR/Bath
February 1684 Waterhaven $630,000 2,504 $252 3/2/2
May 11514 Waterhaven $625,000 2,283 $274 3/3/1
May 11492 Waterhaven $662,750 2,283 $290 3/3/1
October 11503 Waterhaven $572,500 2,283 $251 3/3/1
• 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