2014 Year in Review: Reston Town Center West Market Community: Logan Park Neighborhood

—2014 YEAR IN REVIEW—

And projections for the immediate future…………

WestMktEntrySign

WEST MARKET: Logan Park

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 polyannas, 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 West Market’s Logan Park and Projections For 2015 – Logan Park is a desirable community of well-built, traditional town homes within the upscale West Market community. It is difficult to draw broad-based comparisons on a small sample size of sales, particularly given the relative value differences in unit location. A large premium should be afforded to those homes with exceptional location (the Christopher Company-built oversized homes backing to the pond and woods are prime examples). When seeking advice or consulting a real estate practitioner, Logan Park residents should talk with those who understand the nuances of the neighborhood, not someone who churns out a vanilla “market analysis.” The homes at Logan Park are currently in strong demand, despite a slower overall market. Over the past few years, there have been numerous “quick sales” which underpriced the true value of the homes.

2014 Logan Park sales:

Date Sold            Address                          Sale Price      Sq. Feet        $/ S.F.         BR/Bath
March           1911 Logan Manor (End)   $855,000         2,689          $318               4/3/2
June                    12230 Dorrance             $724,000          1,788         $405               3/2/2
July                     1986 Logan Manor        $810,000          2,832        $286               4/3/1
October              12165 Tryton                   $744,000           1,977        $376               4/2/2

• 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
http://www.RayMaxInternational.com
703-855-7299
raymaxteam@gmail.com

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About RayWedellRealEstate

Real estate professional with Samson Properties. Chartered Financial Analyst, CFA
This entry was posted in Crescent Park Drive, Dorrance Court, Logan Manor drive, Logan Park Reston West Market, Ray Wedell realtor, RayWedellSells Reston, RE/MAX Gateway, Reston real estate, Tryton Way, West Market Home Sales, West Market sales 2014 and tagged , , , , , , , , , , , , , . Bookmark the permalink.

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