Saying Goodbye to the McMansions: What You’ll Save

In a recent article on CNNMoney.com, experts say the average size home American’s are buying has been reduced from 2,300 sq ft to 2,135. That doesn’t seem to be a huge difference when you’re talking 2,000+ sq ft, but how does this size change effect your bottom line? Let’s take a look at some recent sales based on square footage and age strictly for detached, single family homes.

22207 & 22213 (Country Club, Country Club Hills, Berkshire Oakwood, Bellevue Forest, Cherrydale, Country Club Manor, Crescent Hills, Dover Balmoral, Golf Club Manor, Lee Heights, Maywood, Highview Park, Minor Hill, Shirley Woods, Waycroft, Willet Heights, Williamsburg Village, Woodmont, Wavery Hills, etc.)

$1M+ Typically buys you a renovated/newer house that’s about 3,000 sq ft or more, and usually 4+ bedrooms
$800k-$1M Typically buys you about 1,800 – 2,999 sq ft, usually about 3-4 bedrooms, most renovated
$600k-$800k Typically buys you about 1,400-1,799 sq ft, usually about 3-4 bedrooms, sometimes renovated
<$600k Typically buys you <1,400 sq ft, 2-4 bedrooms, few renovated

22201 (Lyon Village, Lyon Park, Clarendon, Ashton Heights, Kirkwood Terrace)

$1M+ Typically buys you a renovated/newer house that’s about 2,100 sq ft or more, usually 3+ bedrooms
$800k-$1M Typically buys you a renovated house that’s about 1,700 – 2,099 sq ft or more, usually 3+ bedrooms
$600k-$800k Typically buys you a house that’s about 1,400 – 1,699 sq ft, usually 3-4 bedrooms, some are renovated
<$600k Typically buys you <1,400 sq ft, few are renovated, and are usually 3 bedrooms

22203 (Ballston, Arlington Forest, Spy Hill Blvd, Brandon Village, Bonair)

$1M+ Typically buys you 2,500 sq ft or more, usually new, 3+ bedrooms
$700k – $1M Typically buys you about 1,500 – 2,499 sq ft, usually renovated, 3-4 bedrooms
$500k – $700k Typically buys you 1,200 – 1,499 sq ft, mostly renovated, 3-4 bedrooms
<$500k Typically buys you <1,200 sq ft, some renovated, 2-4 bedrooms

22205 (Westover, Bonair, Brockwood, Dominion Hills, Falls Church Park, Lacey Forest, Garden Commons, Larchmont, Leeway Heights, Madison Manor, Over Lee Knolls, Summit & Veitch, Tara, Tuckahoe Village, Waycroft)

$1M+ Typically buys you a newer or totally renovated house, 2,700 sq ft+, 4+ bedrooms
$800k-$1M Typically buys you a renovated house, 1,900 – 2,699 sq ft, 4+ bedrooms
$600k – $800k Typically buys you a renovated house, 1,200 – 1,899 sq ft, 3-4 bedrooms
<$600k Typically buys you a <1,200 sq ft house, sometimes renovated, 2-3 bedrooms

22209 (Potomac Reserve, Dawson Terrace, Palisades Park)

Very few single family homes sell in the Rosslyn area and most are about $1M+

22202 (Addison Heights, Aurora Hills, Oakcrest)

$1M+ Typically buys you a completely renovated house, 3,000 sq ft+, 4+ bedrooms
$700k-$1M Typically buys you a renovated house, 1,500 sq ft – 2,999 sq ft, 4+ bedrooms
$500k-$700k Typically buys you a mostly renovated house, 1,100 sq ft – 1,499 sq ft, 3-4 bedrooms
<$500k Typically buys you an older, somewhat renovated house,<1,100 sq ft, 3 bedrooms

22204 (Alcova Heights, Arlington Heights, Arlington Village, Barcroft, Barcroft Forest, Columbia Forest, Douglas Park, Forest Glen, Glen Carlin, Johnson’s Hill, Nauck Green Valley, Southgate, Virginia Heights)

$700k+ Typically buys you new/completely renovated, 2,000 sq ft+, 4+ bedrooms
$500k – $700k Typically buys you a mostly renovated house, 1,200-1,999 sq ft, 3+ bedrooms
<$500k Typically buys you a house in need of renovations, <1,200 sq ft, 2-3 bedrooms

22206 (Claremont, Shirlington, Oakcrest)

$500k+ Typically buys you a completely renovated house, 1,500 sq ft+, 3+ bedrooms
<$500k Typically busy you a somewhat renovated house, <1,500 sq ft, 2-4 bedrooms