McLean Virginia Real Estate Market Snapshot: June 2011

The snapshot above is of the construction of the McLean Tysons Metro stop in McLean, Virginia.
Photo credit: wfyurasko

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 early May 2011 through now:

MCLEAN VIRGINIA HOME SALES:

• Active homes for sale: 278 -- 78 of those have just come on the market within the last 30 days!
  
  
• Average listing price: $1,937,360. Yes, this seems like a very big number, but there are McLean homes available in all price ranges, though over 2/3 of homes available in McLean are priced over $1 million.
  
  
• McLean Homes sold in the last 30 days: 61. At this rate, it would take only 4.5 months for the current McLean inventory to sell. If you're thinking about selling your home in McLean, now may be a great time to do it.
  
  
  
• Average Sales Price: $1,032,282
  
  
• Median Sales Price: $800,000
  
  
• Average Days on Market: 53 -- time on the market has decreased substantially since earlier in the year. Homes are selling pretty quickly in McLean.
  
  
• Average Sales Price/Original Listing Price: 94.30%. This represents an average discount of over $60K off the asking price -- much of this will be seen in the upper brackets of McLean real estate.

Interesting Notes & Analysis:

Of the 278 currently listed for sale, 190 McLean homes or 68.3% are priced above $1 million. 88 McLean homes are priced over $2 million!

Prices for homes in McLean that sold within the last 30 days range from $210,000 to $5.975 million.

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