2014 Year in Review: Reston Town Center…Oak Park

—2014 YEAR IN REVIEW—


And projections for the immediate future…………

OAK PARK Reston

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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 the Oak Park and Projections For 2015 – Prices remained quite stable throughout the year. Differences in prices from one unit to the next were more the result of quality differences in maintenance and upgrades, rather than any market movement. These three level walk-ups in the Reston Town Center are among the best entry-level values one can find.

Summary of 2014 Oak Park Sales (All on Taliesin):

Date Sold        Address               Price                  Sq. Ft.         Price/Sq. Ft.      R/Bath
January              12201 # 35          $353,000                 1,076                  $328                    2/2/0
February            12004 # 31          $335,000                   934                   $362                    1/1/0
April                    12004 #24          $269,900                   767                    $351                    1/1/0
April                    12013 #36           $350,000                   925                    $378                   2/1/1
April                    12016 #13            $308,100                   918                    $336                    2/1/1
June                     12024 #22           $362,000               1,082                   $335                    1/1/0
June                     12016 #33            $332,500                  918                    $362                    2/1/1
July                      12009 #32            $359,500                1,082                  $332                    2/2/0
September          12012 #16             $330,000                  925                   $357                     2/1/1
October                12013 #26            $328,000                  925                   $355                     2/1/1
October                12016 #24            $277,500                   767                   $362                     1/1/0
December            12004 #25            $351,900                 1,076                 $327                     2/2/0
December            12004 #14             $248,900                  767                  $325                     1/1/0

• 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 Oak Park, Oak Park condo sales in reston, Oak Park Condos, Oak Park Reston home sales, Ray Wedell realtor, RayMaxInternational, RayMaxTeam, Reston home sales, Reston real estate, Reston Town Center Real Estate and tagged , , , , , , , , , , , , , , , . Bookmark the permalink.

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