McLean Single Family Median Sold Price Skyrockets in October 2009

In October 2009, 24 single family homes closed in McLean, with a median list price of nearly $1.6 million and a median sold price of $1.47 million. Both the median list and sold prices are significantly higher than October 2008, where more homes sold (30), but at a significantly lower price ($912,000 and $865,000, respectively).

The median DOMP was more than double in October 2009 than in the two previous Octobers, and more than 4 times higher than in October 2006. This is most likely due to the fact that the homes that sold in October 2009 were much more expensive than the three previous Octobers, which typically take longer to sell. The entry level homes for McLean sold significantly faster and tended to do so earlier in the year.

Below is a chart comparing October single family home sales for the last 4 Octobers. Data is gleaned from MRIS.