McLean September Townhouse Sales Hold Steady

With its limited number of townhome developments, the McLean townhouse market is not as active as its single family home market. Using MRIS data, an examination of the number of townhouses that closed in September 2009 versus those that sold in September 2008, September 2007, and September 2006 does not show a great deal of change in this market niche. Total townhouses that closed in the past three Septembers remained virtually the same with 9 selling in September 2009, 8 in September 2008, and 9 in September 2007. Not surprisingly, the median list price and the median sold price are down significantly in September 2008 and September 2009 compared to September 2007, a drop of of more than $100,000 in both categories. This reflects the overall drop in real estate prices during this time frame not only in McLean but the whole region and country for that matter.

Below is a detailed chart that examines townhouses sold over the past 4 Septembers. A review of condos to follow shortly.