Welcome to Luxury For Less, a weekly column highlighting the best deals in luxury real estate. Written by Brandy Schantz of TTR Sotheby’s International Realty, Luxury For Less offers tips and tricks navigating the competitive real estate market and securing the home of your dreams. To learn more, visit ttrsir.com.
Happy New Year and welcome to 2019! The real estate market in 2018 was particularly difficult due to low inventory and high demand for housing. 2019 isn’t looking to slow down any time soon in respect to demand so think about getting your house on the market!
The Tyson’s Corner area has seen a lot of growth over the past ten years and prices are rising quickly. The real story of Tyson’s Corner real estate is the new construction detached homes popping up everywhere.
McLean saw the most dramatic rise in the average price of a new build from 2017. The average price of a new build dramatically climbed from $1.95M in 2017 to $2.1M in 2018 according to MLS data.
Vienna and Falls Church are rapidly ticking upward as well with the average price of a new build in Vienna surging from $1.57M to $1.77M and Falls Church from $1.26M to $1.37M. With land prices on the rise, homes will likely keep getting larger and more expensive.
The area also saw the emergence of luxury condos. Monarch in Tyson’s has 1 bedrooms starting at $629k and go up to $3.396M for a 3 bedroom and den. Verse is in the highly anticipated The Boro neighborhood and have units ranging in price from $500k to just over $1.2M.
The suburban areas around Tyson’s Corner are even getting in the luxury condo market with The Signet in Mclean and Glyndon Falls Condominiums in Vienna.
The luxury market in Tyson’s Corner show no signs of slowing down or falling in price. If you’re looking in the luxury market, despite the rising prices, there are still opportunities to buy in this market for less. Check out the listings below to see some of the luxury for less properties this week.
- 8253 George Washington Ct Vienna (Reduced $149,000)
- 1450 Emerson Ave #314 McLean (Reduced $36,000)
- 720 Potomac Knolls McLean (Reduced $100,000)
- 1786 Clovermeadow Dr Vienna (Reduced $10,000)
- 510 Walker St SW Vienna (Reduced $65,000)
- 3103 Manor Road Falls Church (Reduced $150,000)
- 7540 Burnside Ct Falls Church (Reduced $200,000)
The properties listed are a small selection of properties available in the Tyson’s Corner area. For a full list of properties listed on MLS and private exclusives, please contact Brandy Schantz.