McLean Real Estate Inventory Decrease Causes Price Spike

Decreases across both 22101 and 22102 in inventory levels caused massive double digit increases in average sale prices in March 2012. In 22101, inventory levels were down 5%, and average sale prices were up 36%. In 22102, a decrease of 7% in active homes for sale also caused a 36.8% increase in average sale prices. A total of 58 homes were sold in McLean last month, of which only 1 was a short sale and 1 was a foreclosures.

22101

Single Family, Detached Homes
Average Net Sale Price: $1,284,081 after 85 days

22102 

Single Family, Detached Homes
Average Net Sale Price: $2,183,169 after 146 days
Range: $865,000 – $6,000,000

1 Bedroom, 1 Bathroom Condos
Average Net Sale Price: $216,667 after 8 days
Range: $210,000 – $225,000

2 Bedrooms, 2 Bathrooms Condos
Average Net Sale Price: $350,634 after 26 days
Range: $288,000 – $419,000