Any predictions for prices in town of Vienna?

[Anonymous]

In the last 3-4 years, new build prices in town of Vienna have absolutely skyrocketed. It’s pretty amazing to watch- and irritating because we are priced out. I wonder if this is the kind of thing that will reverse, because it happened SO FAST.. or if the massive price increases are more of a reflection of the fact that so many of the older homes have now been torn down and it’s not really “transitioning” anymore.

Just to shed light on what I mean by skyrocketed, 1.2 would get you a new build and now it’s more like 1.5-1.6. That’s just a lot in a very short period of time!

[Anonymous]

I've noticed the same thing, but I've also noticed them sitting on the market for months, often with price adjustments. I haven't done the research to see at what price they're actually selling but $1.6 seems not to be it.

[Anonymous]

The 1.5/1.6 ones in the town of Vienna aren’t selling quickly

[Anonymous]

Average sale price over past year for newer homes in 22180 (which is mostly Town of Vienna) is $1.44M. It may seem expensive but it’s $400K less than McLean and $200K less than North Arlington. It’s about the same as Falls Church City and $200K more than Pimmit Hills.

[Anonymous]

There is so much money out there. These prices are there to stay or increase. Buy before you are priced out even more.

[Anonymous]

Anonymous wrote:There is so much money out there. These prices are there to stay or increase. Buy before you are priced out even more.

There are less expensive alternatives for new builds, such as Pimmit Hills and South Arlington. You just have to be OK with Marshall or Wakefield rather than Madison.

[Anonymous]

Or don't buy new. Several homes circa 2015 or newer available in Vienna.

[Anonymous]

Anonymous wrote:

Anonymous wrote:There is so much money out there. These prices are there to stay or increase. Buy before you are priced out even more.

There are less expensive alternatives for new builds, such as Pimmit Hills and South Arlington. You just have to be OK with Marshall or Wakefield rather than Madison.

Vienna is basically the poorman's mclean and great falls. I wouldn't compare it to pimmit or south arlington, it's a step up from both.

Viennas location does make it a risk for downturn
Pimmit's schools are a risk
South Arlington schools are a risk

If you want the least amount of risk pick
North Arlington (medicore schools are a risk)
22043 McLean zone or 22101 close to North Arlington (mediocre location is a risk)

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is so much money out there. These prices are there to stay or increase. Buy before you are priced out even more.

There are less expensive alternatives for new builds, such as Pimmit Hills and South Arlington. You just have to be OK with Marshall or Wakefield rather than Madison.

Vienna is basically the poorman's mclean and great falls. I wouldn't compare it to pimmit or south arlington, it's a step up from both.

Viennas location does make it a risk for downturn
Pimmit's schools are a risk
South Arlington schools are a risk

If you want the least amount of risk pick
North Arlington (medicore schools are a risk)
22043 McLean zone or 22101 close to North Arlington (mediocre location is a risk)

Whatever. Hard to put too much weight on advice from someone who doesn't know the difference between "mediocre" and "medicore."

Comparing properties in the Town of Vienna to other areas doesn't mean they are the same. There are trade-offs. The point was that, if someone thinks prices for new homes in TOV are too high, they can find similar new builds for less money in Falls Church (Marshall HS district) or South Arlington (Wakefield HS district), or for about the same amount in Falls Church City (George Mason HS district).

With all the development slated for Tysons, Vienna will become less attractive for those commuting to DC. On the other hand, if Tysons thrives, its location between Tysons and the jobs in Reston along the 267 corridor will be a plus. I'd expect it too just fine.

[Anonymous]

Going nowhere but up. Those TH across from Vienna elementary sold. Very expensive I don’t think Vienna is the poor mans anything at this point.

[Anonymous]

We moved to Vienna (one street out of the town limits) in 2015. One of those 1.5 mil houses sat on Echols for months, but finally sold. I figured that things would be sort of slow-going, but no - drive down Echols, around Mashie, Kramer, Polly, over to Branch street. The tear downs are fast and furious and I don't see a lag time in sales anymore. The huge build on Niblick next to OLGC went for 1.875 mil.

https://www.zillow.com/homes/for_sale/Vienna-VA-22180/51773477_zpid/67174_rid/globalrelevanceex_sort/38.908628,-77.243411,38.904783,-77.249114_rect/17_zm/

Homes in the surrounding area - the streets along Wolftrap from 123 up to where it ends at the trail behind Kilmer are "newer" - i.e. - '80's/'90's, are more reasonably priced, and so far, not susceptible to tear down (the lots are much smaller than on the streets I just mentioned).

Also, as my neighbor likes to say - "You don't have to pay those town taxes." We didn't even know when we moved!

[Anonymous]

Be that as it may, some newer homes in the TOV take a long time to sell.

There's a big market for new construction in NoVa, with teardowns concentrated in Arlington, Falls Church, McLean, and Vienna, and new developments mostly in Loudoun.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There is so much money out there. These prices are there to stay or increase. Buy before you are priced out even more.

There are less expensive alternatives for new builds, such as Pimmit Hills and South Arlington. You just have to be OK with Marshall or Wakefield rather than Madison.

Vienna is basically the poorman's mclean and great falls. I wouldn't compare it to pimmit or south arlington, it's a step up from both.

Viennas location does make it a risk for downturn
Pimmit's schools are a risk
South Arlington schools are a risk

If you want the least amount of risk pick
North Arlington (medicore schools are a risk)
22043 McLean zone or 22101 close to North Arlington (mediocre location is a risk)

Whatever. Hard to put too much weight on advice from someone who doesn't know the difference between "mediocre" and "medicore."

Comparing properties in the Town of Vienna to other areas doesn't mean they are the same. There are trade-offs. The point was that, if someone thinks prices for new homes in TOV are too high, they can find similar new builds for less money in Falls Church (Marshall HS district) or South Arlington (Wakefield HS district), or for about the same amount in Falls Church City (George Mason HS district).

With all the development slated for Tysons, Vienna will become less attractive for those commuting to DC. On the other hand, if Tysons thrives, its location between Tysons and the jobs in Reston along the 267 corridor will be a plus. I'd expect it too just fine.

And areas sandwiched between tysons and dc will go up even more. So it's not going to change anything unless there is a new metropolitan city that erupts over night to the west of vienna

[Anonymous]

How easy is a commute from TOV to Tysons? It's close on paper but no direct metro connection and local roads seem always busy.

[Anonymous]

Anonymous wrote:How easy is a commute from TOV to Tysons? It's close on paper but no direct metro connection and local roads seem always busy.

Depends on what part of TOV - SE and NE quadrants are easier, SE probably the easiest. Depending on exactly where in Tyson's - you're looking at 20 minutes unless you are coming from far SW or NW.

The backroads are well-utilized!