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:
49 Total Sales
Price Range: $416,000 – $2,590,000
Average Days on the Market (Property): 72
Price Range: $520,000 – $1,185,000
Average Days on the Market (Property): 50
28 Total Sales
Price Range: $775,000 – $4,150,000
Average Days on the Market (Property): 130
Price Range: $291,000 – $740,000
Average Days on the Market (Property): 80
2 bedroom, 2 bath Condo
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!
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