Reston Real Estate juggles cautious buyers, optimistic sellers

by Roxanne Watts, Watts Fine Homes

Nuanced shifts have defined the Reston housing market over the past six months. The median sales price for all home types stood at $590,250 at the end of June, reflecting a modest 1.6% decline compared to the same period in 2024.

Interestingly, despite softer sales prices, median listing prices have risen. Realtor.com and Rocket both report median list prices hovering around $600,000 in June 2025, marking a year-over-year increase of approximately 9 to 12%. This divergence suggests that sellers are testing the market with higher asking prices, while buyers, facing affordability pressures, are negotiating more assertively.

Inventory surged in the first half of the year. According to Rocket, active listings nearly tripled in just one month—from 93 homes in May to 213 in June, a 129% jump. Fairfax County as a whole saw listings double during the same timeframe.

This expanded inventory has slowed market velocity. Average days on market rose to 23 in June 2025, up sharply from just seven days one year earlier. Still, listing-to-sale price ratios remain strong, with homes selling at around 100.4% of list price. That means many buyers are still paying full price or more though bidding wars are less frequent than last year. Well-presented homes continue to attract multiple offers.

Price per square foot has shown modest upward momentum, reaching $370, a 2.8% increase over last year.

Within Reston, there are pockets of outsized demand. Zip code 20194 experienced the most vigorous activity, with a median sale price of $765,000—up 19% year-over-year—and homes selling in just eight days, often with multiple offers. In South Reston (20191), the single-family sector remains resilient, with median sales nearing $985,000. Meanwhile, ground has been broken on new single-family homes off Lake Fairfax Drive, a highly anticipated development.

Condos and townhomes near the Metro stations at Wiehle and Reston Town Center are also in high demand. Median resale prices in June stood at $364,000 for condos and $634,000 for townhomes.

Taken together, these indicators reveal a market in transition. Sellers are aiming higher, but buyers, who are navigating higher financing costs and more choices, are becoming increasingly selective. Negotiability is rising, particularly when interest rates tick up. Townhomes remain the most in-demand segment, offering a balance of affordability and outdoor space that condos typically lack.

Overall, Reston is well-positioned to weather market fluctuations. Its proximity to Washington, D.C., and Dulles Airport, along with its natural beauty, strong transit options, and intentional community design, continue to attract both homebuyers and investors seeking long-term value and vibrant neighborhoods.

Reston's housing story is still unfolding; stay tuned for our next quarterly update.