2014 Year in Review: EdgeWater Condominiums at Reston Town Center

2014 YEAR IN REVIEW

And projections for the immediate future…………

EDGEWATER CONDOMINIUMS

EdgeWaterFrontSign2

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.

A Review of EdgeWater Condominiums and Projections For 2015 – Prices remained quite stable throughout the year. Prices showed more stability throughout the year than any neighborhood covered. The standard, 2 bed room, 1 ½ bath 966 square foot model seems stuck at a price below $300,000. The larger 2 bed room, 2 bath, 1,108 square foot model seems stuck at $300,000 or a bit more (the high point was a highly renovated home which sold at $326,000). EdgeWater represents the best value for the dollar in the Reston Town Center, and stronger marketing of the neighborhood may be needed to push prices higher.

Summary of 2014 EdgeWater condominium Sales (All on Lake Shore Crest Drive):

Date Sold            Adress                  Price              Sq. Ft.       Price/Sq. Ft.      BR/Bath
February                1716 #13               $294,900               966                   $305                  2/1/1
March                     1708 #26             $301,000             1,108                   $272                  2/2/0
April                        1704 #33             $285,000               966                    $295                  2/1/0
May                          1701 #33             $285,000               966                    $295                  2/1/0
May                          1708 #22             $296,000              966                    $306                  2/1/0
May                          1724 #23              $295,500              966                    $306                  2/1/0
August                     1700 #16              $326,000            1,108                   $294                   2/2/0
August                     1700 #25              $288,000           1,108                   $260                   2/2/0
October                    1720 #16              $304,000           1,108                    $274                   2/2/0
October                    1724 #14               $257,050             801                     $321                    1/1/0
November               1720 #22              $292,500              966                    $303                   2/1/0
November                1705 #13              $283,000             966                     $293                  2/1/0
November                 1716 #33              $297,150              966                     $308                  2/1/0

• 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 2014 Sales EdgeWater reston, EdgeWater at Reston Town Center, EdgeWater Condominiums Reston, Lake Shore Crest, Lake Shore crest Drive 20190, Ray Wedell realtor, RayMaxTeam, RayMaxTeam sells EdgeWater condominiums, RE/MAX Gateway, Reston home sales, Reston Town Center Realtor and tagged , , , , , , , , , , , . Bookmark the permalink.

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