The photo above is of a Northrop Grumman office building in McLean, Virginia (photo credit Jim Moore)
What's Happening today in the McLean, Virginia Real Estate Market?
Here's a snapshot of McLean Virginia home sales in the last 30 days from the end of December 2010 through now:
MCLEAN VIRGINIA HOME SALES:
- Active homes for sale: 226 -- 30 of those have just come on the market within the last 30 days!
- Average listing price: $1,746,285
- McLean Homes sold in the last 30 days: 31. At this rate, it would take nearly 7 months for the current McLean inventory to sell -- however, I expect that sales will pick up in the early Spring.
- Average Sales Price: $1,226,088
- Median Sales Price: $864,000
- Average Days on Market: 133 -- time on the market has increased substantially in the Winter (especially since these numbers include the traditionally slower holiday period from Thanksgiving to New Years)
- Average Sales Price/Original Listing Price: 81.64%. This number is heavily skewed due to a very large price drop on one or two high-priced homes in McLean. Discounting those, the average sales price to listing price ratio is likely closer to the low 90-percents.
Interesting Notes & Analysis:
Of the 226 currently listed for sale, 144 McLean homes or 63.7% are priced above $1 million. 64 McLean homes are priced over $2 million!
Prices for homes in McLean that sold within the last 30 days range from $180,000 to $9 million.
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