The Reston Real Estate Market Report provides you with insight into the real estate market’s performance through highly engaging visuals. We provide market data with context so that you can understand the meaning behind the numbers and their impact on your eventual need or desire to buy, sell, or invest in real estate.
In this September 2020 edition of the Reston Real Estate Market Report, you will see that the market is somewhat confounding. While market conditions are ripe for sellers to get top dollars on their home, few are selling. Record low interest rates have spurred demand for home-ownership as people reconsider their housing priorities due to the pandemic.
The Reston real estate market is characterized by:
- Home prices are steadily rising across all home types (up 7.4% year-over-year), but down from their highs in July and August;
- Townhome prices have cooled somewhat, while detached home and condo prices have stayed steady;
- The market is still suffering from a lack of supply, creating a strong seller’s market, but inventory crept up this month;
- Historically low interest rates still driving buyer demand.
Download the Reston Real Estate Market Report – September 2020 for charts, graphs, and analysis.
As always, we love to answer your questions about the housing market. Reach out at any time to discuss your goals in the current market.