There were 55 properties that sold in McLean, VA in November 2009. Per usual, I have the city broken up by zip code since their markets are so different. See the number belows.
McLean – 22101 (30 properties sold)
Detached Home
Average Net Sale Price: $942,205 after 83 days on the market
Range: $425,000 – $2,202,550
Townhomes
Average Net Sale Price: $757,100 after 12 days on the market
Range: $665,000 – $849,200
McLean – 22102 (25 properties sold)
Detached Homes
Average Net Sale Price: $1,395,318 after 230 days on the market
Range: $465,000 – $3,904,500
1 Bedroom Condo
Average Net Sale Price: $260,090 after 79 days on the market
2 Bedroom Condo
Average Net Sale Price: $432,841 after 61 days on the market
Market Share Info:
22101 – there 2 short sales and 2 foreclosures (bank-owned) properties that sold, that’s 13.3% of the market in distress
22102 – there was 1 short sale and 2 foreclosures (bank-owned) properties that sold, that’s 12% of the market in distress
Here’s why we split up McLean by zip code: 22101 has an average sale price down about 48% from November 2008, and days on the market is also down by about 28%. However, 22102 has an average sale price about equal to November 2008, with 100% more units sold, and days on the market down about 30%.