- The city's full build out is still underway.
- A Silver Line station in the city began running in 2014.
- Home values declined in the city during the past 12 months.
Known for its influence on residential and corporate development in suburban America, the Washington, D.C. community of Reston is considered the largest planned community in Virginia.
Founded in April 1964 by Robert E. Simon, the city’s influence on development was recently chronicled in a new documentary Another Way of Living: The Story of Reston, Va.
Roughly 22 miles outside of downtown DC in Fairfax County, Reston development is still ongoing within the city of roughly 58,000.
The community’s Reston Town Center is nearing complete build out, as the last undeveloped parcel is slated for construction. Plans call for Boston Properties to build two high-rise residential buildings on the site, along with underground parking and ground floor retail. The developer also plans to turn a three-story retail/office building within the town center into a 17-story office and retail building.
Aside from the town center other notable attractions in the city include Lake Anne Plaza and the 18-acre Lake Fairfax Park, known for its water play activities.
While Reston is known as a car dependent city, a Silver Line station did open in 2014. A second station, Reston Town Center, will open in 2018 or later. A third station that would rest on the Herndon/Reston border is also proposed.
Single-family housing market in Reston
During February the median sales price of an existing home in the city was $400,000, according to a report from Long & Foster. This price was unchanged on a year-over-year basis and took into account the recent sale of 71 homes.
The city’s inventory of 207 active listings equates to 2.9 months of supply.
This lack of inventory hasn’t positively impacting home prices, as Zillow cites prices declining by three percent during the last 12 months. A slight decline of 0.4 percent is predicted for the next 12 months.
The city features some quality schools, but no elite places of education. GreatSchools gave a “9” rating to the area’s Sunrise Valley Elementary and an “8” rating to both Hunters Wood Elementary and Aldrin Elementary.