Days on the market was slashed in July 2011 compared to 2010. By zip code, 22101 fell 38% to 61 days, while 22102 fell 66% to 40 days. Of the 65 properties sold, only 3 were short sales, and none were bank-owned! Along with the summer, comes a bit of a summer-slowdown, so it’s no surprise many of the average prices in McLean fell last month. I suspect it’s less of a market indicator, and more of a seasonal indicator.
22101
Single Family Homes
Average Net Sale Price: $950,986 after 65 days
Range: $570,000 – $2,268,500
Townhomes
Average Net Sale Price: $955,929 after 33 days
Range: $740,000 – $1,600,000
22102
Single Family Homes
Average Net Sale Price: $1,176,594 after 44 days
Range: $517,500 – $1,910,000
1 Bedroom, 1 Bathroom Condo
Average Net Sale Price: $263,000 after 18 days
Range: $210,000 – $320,000
2 Bedroom, 2 Bathroom Condo
Average Net Sale Price: $369,819 after 58 days
Range: $257,050 – $590,000