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Are you wondering about Northern Virginia real estate and pondering what has sold recently?
Here's some information about the most expensive home sales in Northern Virginia (Arlington County, Alexandria City, Fairfax City, Fairfax County, and Falls Church City) for January 2010. All information was obtained through MRIS.
Overall, there were 48 Northern Virginia home sales topping $1 million during the first month of 2010.
Currently, there are 633 homes on the market in Northern Virginia with list prices topping $1 million just up from the 627 that were on the market in December.
JANUARY 2010'S MOST EXPENSIVE SALES
Single Family Detached Homes:
CLICK TO SEARCH FOR AVAILABLE SINGLE FAMILY HOMES IN NORTHERN VIRGINIA
Townhouses:
SEE AVAILABLE TOWNHOUSES IN NORTHERN VIRGINIA
Condominiums:
SEE AVAILABLE CONDOMINIUMS IN NORTHERN VIRGINIA
Contact Brian Block, Managing Broker, REALTOR/Attorney, RE/MAX Allegiance:
Licensed in Virginia & Washington D.C. 703-626-0715.
If you are interested in purchasing or selling a property in Northern Virginia including Arlington County, Alexandria City, Annandale, Burke, D.C., Fairfax County, Falls Church City, Great Falls, Lorton, McLean, Springfield, Washington D.C., contact Brian today.
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While the January 2010 single family and townhome sales activity show real positive signs for the local market, the condo sales last month didn't indicate much progress and was similar to the January 2009 numbers.
Seven condos changed hands in 2010, only one more than in January 2009. This is significantly lower than numbers for January 2006 (17), January 2007 (13), and January 2008 (12). The January 2010 median list ($375,000) and median sold ($355,000) were lower than January 2009 but not the lowest in the past 5 years. Only January 2008 posted lower numbers in both median list and median sold. January 2010's median DOM-P was back over 100 days, and only in January 2007 did condos sit longer on the market.
Condos do tend to be the first to stall in a declining market and the last to rebound in a recovering market, which might explain part of the numbers for last month. Also, with many of McLean's condo developments located in and around Tysons Corner, the Metro extension construction may be putting a damper on condo sales. 2013 is only just around the corner, the expected completion date for the new Metro Line through Tysons, so now is an excellent time to buy there.
Below is a chart comparing McLean's condo sales over the past five Januaries. Data is gleaned from the MRIS.

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The market for townhouses last month was arguably the strongest of any of the past five Januaries. Comparing January 2010 to the four previous Januaries, the 7 that sold was the most, edging out January 2006, when 6 changed hands. The 60 Med. DOM-P was the least in January 2010, less than half the time townhouses remained on the market in January 2009. Only January 2006 had a higher median list price ($925,000 compared to January 2010's $789,500) and a higher sold price ($850,000 compared to last month's $775,000).
It is important to remember that McLean doesn't have a huge number of townhouse developments, so the sales numbers in general tend to be on the low side compared to neighboring areas where this type of property are more prevalent. Please see below for more information on townhouses sales taken from data gleaned from MRIS.

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Well, just as my children predicted, we got another dose of the white stuff over night in McLean. The timing was perfect...for my kid's sake. It started snowing in the late afternoon yesterday and didn't stop until the early morning. This ensured yet another a snow day from school.
According to Wikipedia, the average snowfall for the Washington, D.C. area is 16.6 inches. We got that and then some in just the one storm that hit right before Christmas! Add that to the snow last Saturday and the snowfall over night, and we've just about doubled the average.
Did I mention we're getting another whopper this weekend. The National Weather Service has already issued a Winter Storm Watch starting Friday morning through Saturday night. And the expected amount? 12 inches up to 20 inches in some areas.
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The most startling piece of information when examining the January sales for single family homes in McLean over the past 5 years is how low the January 2009 market fell. In January 2009, only 15 single family homes sold, the fewest in the last five years, after staying on the market for 120 days, the longest DOM-P in the past five years. More striking is that the median list price of $649,900 and median sold price of $648,500 was half the values versus January 2007, which saw prices at $1,310,000 and $1,300,000 respectively.
In January 2010, fortunately, the market rebounded and the numbers improved across the board. The 18 homes that changed hands last month was identical to January 2008, although not nearly as high as the 31 that sold in 2007. The 75 median days on the property was down 45 days from last year and better than any of the previous five Januaries except for January 2006. The median list price and median sold price also climbed back over a million in January 2010 and were very similar to the January 2006 prices for both.
Below is a report of single family home sales in McLean for the past five Januaries. Data is gleaned from MRIS.

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