McLean real estate is literally flying off the market these days. Prices took a small dip in April, but that’s because more of the “affordable” houses in McLean sold last month, bringing average sale prices down. However, inventory is down throughout McLean, as are days on the market. In 22101, properties were selling for an average of 96.6% of original list price, while 22102 saw a 95.9% average. The big thing to watch is days on the market, most of the properties are selling within 10 days of hitting the market. A total of 50 properties sold in April and half sold within 10 days of coming on the market. Of those 50, only 4 were short sales or foreclosures. Most of the properties sold last month were single family homes, so you’ll see some averages are missing below – ask me if you have a specific type of property and want an idea of what it’ll sell for:
22101
Single Family, Detached
Average Net Sale Price: $1,040,783 after 76 days (median: $768,175)
Range: $477,999 – $3,100,000
Townhomes
Average Net Sale Price: $684,500 after 1 day
Range: $599,000 – $779,500
22102
Single Family, Detached
Average Net Sale Price: $1,138,475 after 35 days
Range: $813,850 – $1,817,000
1 Bedroom, 1 Bathroom Condos
Average Net Sale Price: $230,625 after 18 days
Range: $219,000 – $257,500
2 Bedroom, 2 Bathroom Condos
Average Net Sale Price: $256,332 after 7 days*
Range: $194,297 – $310,000
*There was a $1M condo sold but it’s a new construction and not a great comp to be used in computing an average