July 2009 Real Estate Statistics in McLean, VA – 22101 and 22102

McLean, VA has seen some interesting developments over the past month from July 2008. For 22102, themedian sales price has fallen by 39%, but the average is only 1.6% down. This is a testament to where the activity is – in the lower price ranges. 22102 is dominated by detached property sales (39 of the 49 total sales in July were detached/single-family homes). For 22101, both the average AND median sales prices have fallen 25% since July 2008. The properties that sold in 22101 was evenly split between townhomes, condos, and detached properties. Here’s the breakdown:

22101

49 Total Sales

Detached Properties

Price Range: $416,000 – $2,590,000

Average: $952,752
Average Days on the Market (Property): 72

Townhomes

Price Range: $520,000 – $1,185,000

Average: $729,480
Average Days on the Market (Property): 50

22102

28 Total Sales

Detached Properties

Price Range: $775,000 – $4,150,000

Average: $1,786,444
Average Days on the Market (Property): 130

Townhomes

Price Range: $291,000 – $740,000

Average: $518,640
Average Days on the Market (Property): 80

2 bedroom, 2 bath Condo

Average: $300,000
Average Days on the Market (Property): 56

While they say 75% of all statistics are lies (ha!), you can see the numbers show it’s a great time to buy in McLean. For a more detailed Free Comparative Market Analysis with specifics about an individual property, please call or email me!

Laura@TheLJRGroup.com
703.283.6120