What is this, 2005? Falls Church Community Sells Out During Its Grand Opening

RESTON, Va., July 29, 2011 /PRNewswire/ -- Located just two miles from the thriving business and lifestyle hub of Tyson's Corner, the success of Falls Crest demonstrates that in real estate, location is still king.  Offering buyers 1/3 acre homesites and two of their most popular floorplans from which to choose, this scenic infill community offered buyers the unique opportunity to buy a new home in a coveted section of Falls Church -- most of which has already been developed with older existing homes.  

Reminding industry veterans of the real estate "good ole days" of the mid-2000s, Stanley Martin Homes had 85 prospective buyers on their pre-marketing VIP list and only five homes to sell at the community.  Four of the five homes were sold the first weekend of pre-sale and the fifth was sold just days later, selling out the community on the Grand Opening weekend, when the community would usually open for sales to the general public.  Thus proving that when the location, product, and price are right -- Washington area buyers are willing and ready to spend and spend big.  All five homes were based priced in the high $800s and it appears that four of the five will close between the high $900s and million dollar mark due to structural and design studio options added.  

Recent headlines have affirmed that while the national housing numbers continue to waver amidst a beleaguered economy, the Washington DC market serves as quite the anomaly, with relatively low inventory, rising home prices and increased sales of existing and new homes.  Stanley Martin's success at Falls Crest is an example of the DC market's strength and hopefully a promising indicator for even better days ahead.

Media Contact: Lauri Payson, Vice President of Marketing, Stanley Martin Homes
703.964.5108, [email protected], www.stanleymartin.com

SOURCE Stanley Martin Homes