Good News for McLean Home Owners…And A Red Alert for Buyers Waiting.

McLean – home to Mars, a few Desperate Housewives, Mitre, and Freddie Mac. So how has the current economic state effected McLean home owners? It appears, from the August statistics, that McLean homeowners should be happy….and that buyers should stop waiting!

Of the 67 properties sold in 22101 and 22102, only 3 were distressed (1 was a short sale, 2 were bank owned). Prices in 22102 are up over 50% from 2009, and days on the market is down 3%, while 22101 days on the market is down almost 10%. Prices in 22101 are down 5% from 2009, but make no mistake – the most activity in that zip  were homes priced between $1M and $2.5M. Of the 67 sold, 12 sold at or above list price.

22101

Townhomes
Average Net Sale Price: $901,227 after 46 days
Range: $585,089 – $1,360,000

Single Family Homes
Average Net Sale Price: $1,051,741 after 95 days
Range: $554,000 – $4,331,950

22102

1 Bedroom Condos
Average Net Sale Price: $240,667 after 23 days
Range: $230,000 – $256,500

2 Bedroom Condos
Average Net Sale Price: $304,189 after 55 days
Range: $170,000 – $396,000

3 Bedroom Condos
Average Net Sale Price: $497,500 after 74 days
Range: $465,000 – $530,000

Single Family Homes
Average Net Sale Price: $1,648,530 after 139 days
Range: $685,000 – $3,976,055

For more specific pricing information, please send me some more details: Find Out What Your McLean Home Is Worth
If you’re searching for a home in McLean: Search Homes for Sale in McLean, VA

For more information about the McLean Community, visit my fellow TBD.com contributor: The McLean Ear