Market Update: Hunters Woods, Reston, Virginia (20191)

Despite what you hear in the press, I found this to be a very busy Spring. Looking at the statistics from the Hunters Woods area, it appears that there were many other people who were also busy!

Number of Detached Homes Sold From 4/1/08-6/30/08: 32
Average Net Price in 2008: $536,260
Number of Detached Homes Sold From 4/1/09-6/30/09: 43
Average Net Price in 2009: $522,949
Percentage Price Change: -2.5%

Number of Townhouses Sold From 4/1/08-6/30/08: 51
Average Net Price in 2008: $341,054
Number of Townhouses Sold From 4/1/09-6/30/09: 73
Average Net Price in 2009: $309,773
Percentage Price Change: -9%

Number of Condominiums Sold From 4/1/08-6/30/08: 32
Average Net Price in 2008: $195,774
Number of Condominiums Sold From 4/1/09-6/30/09: 34
Average Net Price in 2009: $200,921
Percentage Price Change: +2%

30% more units were sold in 2009 than in 2008 across all housing types in the 20191 zip code. In the Detached Home segment, there was an increase in the number of units sold with a minor decrease in price. There was a significant jump in the number of Townhouses sold which can most likely be attributed to the decrease in prices. The Condominium market stayed fairly stable with a minor price increase and roughly the same number of units sold in each year.

*data from MRIS

If you are interested in buying or selling a home in Hunters Woods, I would be happy to meet with you and discuss how these numbers will impact your investment. My direct line is 571-643-4902.