Reston’s Spring Housing Market

by Roxanne Watts, Watts Fine Homes

If you've noticed more "For Sale" signs popping up alongside the daffodils, you're not alone. Inventory in Reston rose 12% year-over-year from March 2024 to March 2025. Keep in mind, about 10% of Reston sales happen off-market—meaning there’s more activity than the data reveals.

Zooming out, the Northern Virginia region saw a 63% annual increase in active listings. Reston stood out with a dramatic 170% surge between March and April 2025, jumping from 73 to 197 homes for sale. Spring has clearly sprung—in more ways than one.

Since the last report on March 1, home values have also ticked up. The median list price rose from $565,000 to $575,000, and many homes are still going under contract in less than a week. The average home value now stands at $642,743—a 5.7% increase over the past year.

Consider 11159 Saffold Way, a townhome near Lake Anne listed for $665,000 and sold for $707,000. Buyers were waiting for it during the Coming Soon phase and were ready to pay a premium to secure it fast. At 12033 Lake Newport Road, a single-family home in 20194 listed at $1,100,000 received two offers and sold at full price—during Spring Break, no less, when showings were down. Both contracts waived inspection, financing, and appraisal contingencies, although those contingencies are returning in about half of current contracts.

The average days on market—just 10—still reflects a seller-friendly environment.

Reston's modest but steady population growth is one factor sustaining demand. As of July 1, 2024, the population was 63,323, reflecting a 0.52% annual growth rate since 2020. With a median age just over 40 and a median household income above $139,000, the area continues to attract young professionals, established families, and retirees drawn to its mix of green space and cultural amenities.

That said, the local economy faces some headwinds. The tech sector—a key economic driver—has hit turbulence. Amazon, Google, Microsoft, Boeing, and Leidos have all announced workforce reductions, adding some uncertainty to the market outlook.

About 25% of homes on the market reduced their prices before going under contract or ultimately sold below list. Even the new luxury condos in the J.W. Marriott tower at Comstock’s Reston Station are adjusting. A 1,500-square-foot, two-bedroom, two-bath unit originally listed at $1,599,000 has dropped to $1,499,000. (The condo fee is $1,813 per month, reflecting the abundant luxury, including 24-hour concierge and valet service.) The largest three-bedroom units are priced at $3,199,000.