Real estate, like any other market, is all about supply and demand.
So, how's the supply and demand in McLean Virginia real estate these days?
SUPPLY: As of April 12, 2010, there are 207 homes on the market in McLean, Virginia
DEMAND: In the last 30 days, 37 homes sold in the McLean. At this pace, there'd be 6.9 months of inventory of McLean homes. This is a bit higher than surrounding jurisdictions, primarily because the homes are more expensive in McLean.
Here are the details about the housing inventory in McLean-- if you're thinking about buying a home in McLean or elsewhere in Northern Virginia, you might want to take advantage of the beautiful weather and head for a drive around town or at least to your local McLean RE/MAX office!
McLean Virginia Single Family Homes
144 Single Family Homes are on the market in McLean at an average price of $2,437,475. The prices range from $499,000 up to $17,500,000. The average price is a bit skewed by the upper price ranges. If you remove the 10 highest priced homes from the equation, the average price in McLean drops to $1,962,775.
There are 117 McLean homes priced at one million dollars or more with 63 of those over $2 million. However, you can still find 9 single family homes in McLean for under $800,000.
Inventory in some popular McLean neighborhoods:
Chesterbrook -- 10 homes available -- Average price $1,001,500
Franklin Park -- 6 homes available -- Average price $1,440,417
The Reserve -- 4 homes available -- Average price $3,147,500
Woodside Estates -- 7 homes available -- Average price $2,058,400
CLICK HERE TO FIND A SINGLE FAMILY HOME IN MCLEAN
McLean Virginia Townhouses
15 Townhouses are on the market in McLean at an average listing price of $875,243. The range in prices for McLean townhouses is between $545,000 and $1,695,000.
The highest concentration of townhouses are in the following McLean communities:
Kings Manor -- 3 townhouses -- Average price $654,667
McLean Place -- 3 townhouses -- Average price $863,267
FIND A TOWNHOUSE IN MCLEAN
McLean Condominiums
Around 50 condos are on the market in McLean:
16 Garden Style condos (1-4 floors) at an Average price of $308,453
3 Mid-Rise condos (5-8 floors) at an Average price of $749,333
28 High-Rise condos (9+ floors) at an Average price of $506,891
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I know this all to well as I have buyers looking in McLean and we aren't having much luck in getting into the home they want. Now we are looking at lots for buidling.