February's Snow Doesn't Damper McLean's Single Family Home Sales

Despite four snow storms in a row that essentially closed everything in the Metropolitan D.C-area down for nearly two weeks, real estate sales still occurred. In February, 14 single family homes in McLean traded hands, which was identical to 2008, and less than 2009 (21), 2007 (17), and 2006 (22).

Another good sign for this market is that the 84 Med. days on the market for February 2010 was the 2nd lowest for the previous five Februaries, with only February 2006's median DOMP moving quicker at 48 days. Also, the February 2010 Median List price of $912,375 and Median Sold of $860,000 remains strong, a good sign for the continued recovery of the market.

It is likely that the snow did have some impact, most likely with the number of properties that sold. Not being able to show houses for 10 days will have an impact. Below is the data for single family home sales in McLean for the past 5 Februaries, courtesy of MRIS.