Vienna New Home Pricing Structure

Vienna New Home Pricing Structure

In an effort to classify lots into price categories, we have identified the most common characteristics that effect price. These are guidelines and guidelines have exceptions. It takes experience and current market knowledge to determine lot value and buyer acceptance. 

Most common Characteristics:

  • Size of the lot
  • School district
  • Corner vs interior
  • Proximity to downtown (700 block in or 800 block and out)
  • Traffic pattern*
  • Lot width
  • % of neighborhood New homes
  • Finished homes prices for neighborhood

*Traffic patterns are important. Heavy traffic areas include but are not limited to:

Kingsley and Tapawingo between Cottage and Nutley

Park and Cottage beyond the 800 block

 

Current Market conditions as of January 2015:

17 Active homes

  • 8 B+ Lots
  • 7 B Lots
  • 2 C Lots
  • Average days on Market: 101

3 Under contract (all B Class)

  • Average Lot size 11500
  • Average Lot cost $548,000
  • Average SQ footage 3615
  • Average List Price $1.337 M
  • Average PPSF $371

 

2015 Guidelines for A+ Class lots

  • Over 18000
  • Premium school district
  • Neighborhood built out at least 70%
  • 100+ linear feet frontage 
  • Close to downtown
  • Supports $1.6-$2M homes
  • No Through Streets

 

A+ Streets include but are not limited to: Ayr Hill, Glyndon, Windover, Spring, Druid Hill, Nelson. Hillcrest and the 100 block of Kingsley, are some prime examples, Mashie, Niblick and extreme SE corner (Tysons side) are starting to turn.

Lot cost: $650-$750k

Final sales prices $1.5M +

 

2015 Guidelines for A Class lots

  • Over 15,000 sq feet
  • Premier school district
  • Neighborhood 50% developed
  • 85-120 linear feet of frontage
  • No through streets (exceptions are 20000+ lots on Church, Park, Beulah and 100-700 block of Center)
  • Lot Cost $600-$650

 2015 Current A listings –None

2014 Stats for Class A Lots (2 homes):

  • Average Lot size 17,802
  • Average Lot cost $611,000
  • Average SQ footage 4200
  • Average Price $1..63M
  • Average PPSF $ 390

 

2015 Guidelines of B+ Class lots

  • Over 12000 sq. feet lot
  • Good school district
  • North side lots over 12000 sq. ft.

or

  • Interior lots 700 block and in on south side
  • 85 linear feet frontage
  • Corner lots in 800-1200 blocks
  • Vienna Elementary

Current Lot cost: $575-$600

Final price: $1.275-$1.375M

2014 Sold Stats for Class B+ Lots (8 homes)

  • Average Lot size 11198
  • Average Lot cost $503,000
  • Average SQ footage 3622
  • Average Price $1.350
  • Average PPSF $373

2015 Current B+ listings (8 homes)

  • Average Lot size 12,614
  • Average Lot cost $591,000
  • Average SQ footage 3843
  • Average Price $1.409M
  • Average PPSF $365

 

2015 Guidelines of B Class lots

  • Interior lots in 800-1200 blocks
  • 10000-11000
  • Marshall Rd Cunningham school district
  • No thru street
  • 75-85 linear feet wide

Or

  • High traffic corner lots 14000+

Lot cost $540-$560

Final cost $1.2M-$1.3M

2014 Sold Stats for Class B Lots (7 homes)

  • Average Lot size 14700
  • Average Lot cost $500,000
  • Average SQ footage 3862
  • Average Price $1.310M
  • Average PPSF $340

2015 Current B listings (6 homes)

  • Average Lot size 12,045
  • Average Lot cost $547,000
  • Average SQ footage 3587
  • Average Price $1.299M
  • Average PPSF $378

2015 Current B listings UNDER CONTRACT (3 homes)

  • Average Lot size 11500
  • Average Lot cost $548,000
  • Average SQ footage 3615
  • Average List Price $1.337 M
  • Average PPSF $371

  

2015 Guidelines of C Class lots

  • 10600-11000 lot size
  • Interior high traffic (Tapawingo, Kingsley from Cottage to Nutley, Cottage 800-1200 block +, Beulah from Maple to Wolftrap school.
  • Lots too close to Cedar Ln

Lot cost $525-$535

Final Price $1.15M-$1.25M

2015 Current C listings (3 homes)

  • Average Lot size 10613
  • Average Lot cost $532,000
  • Average SQ footage 3470
  • Average Price $1.299M
  • Average PPSF $375

2014 Sold Stats for Class C Lots (7 homes)

  • Average Lot size 12,614
  • Average Lot cost $506,000
  • Average SQ footage 3875
  • Average Price $1.235M
  • Average PPSF $319

This article “Vienna New Home Pricing Structure” was written by Casey Samson for buyers finding their dream home, please do not copy the content without permission.

 

 

 

 

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