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According to the data from the MRIS, the number of condos sold and closed in September 2009 bounced back to 20 after dipping to 10 sold in September 2008. The twenty condos sold last month is close to September 2007, when 19 condos were sold, and September 2006, when 23 sold.
Again, prices are still down in September 2009 compared to September 2007 and September 2006. The median sold price hit $380,000 in September 2007 before dipping to $269,950 in September 2008 and then rose slightly to 284,500 in September 2009.
The bottom line for the McLean real estate market -- single family, townhouses, and condos -- is that we've bounced back to the numbers sold before the downturn but prices are well below the levels at the peak of boom. Here is the data for September 2009 condo sales.

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Yes; thats right. My team just put a home under contract in near record time. Buyer's market? Not in many areas of Washington DC.

It is true that there are a few deals to be had out there; however multiple offers and homes selling in days - is happening in many areas of the Washington DC Metro area.
This latest Listing was in nearby McLean, Virginia. A popular area due to it's proximity to Major Transportation Routes; Shopping and employment centers. Of course - while location is always KEY; fresh paint; fix-ups; and a great cleaning all go into the Selling Process.
In fact; it took weeks to get this home ready for sale. This preparation seems to have paid off in a big way.
The listings sitting on the market: Are not clean, freshly painted; fixed up; staged or priced right. If they were - they would be sold!
UNDER CONTRACT !!!
Contact James Downing of the Downing Real Estate Group, if you are selling, buying or have questions!
Office: 202-362-5800 Cell: 703.244.3971
Licensed in Washington DC, Virginia & Maryland.
Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW Suite 100 * Washington DC 20016
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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.

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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 September 2009. All information was obtained through MRIS.
Luxury home sales have been slowing down quite a bit during the last few months. The majority of the activity in Northern Virginia real estate is occurring with first-time buyers anxious to take advantage of the $8000 tax credit expiring on November 30th. Needless to say, most of these first-time buyers are not purchasing in the luxury price ranges.
Overall, there were 54 Northern Virginia home sales topping $1 million during the month of September 2009, down from 76 in August and 90 in July 2009.
Currently, there are 845 homes on the market in Northern Virginia with list prices topping $1 million.
SEPTEMBER'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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Location ! This 3 level end-unit town home features 3 bedrooms, 2 full and 2 1/2 baths and hardwood floors. Featuring an Eat-In Kitchen plus a separate dining room.
Relax on your private outdoor patio or by one of the two fireplaces. and enjoy your private beautifully manicured courtyard. This home even has a recreation room and a walkout lower level. Close to CIA, stores, parks and restaurants.
James T. Downing
Team Leader -
The Downing Real Estate Group
REALTOR, GRI, ABR
Licensed in Maryland, Virginia & Washington DC
703.244.3971 Direct
Jim@JimDowning.com Email
Coldwell Banker
Residential Brokerage
5028 Wisconsin Ave. NW
Suite 100
Washington, DC 20016
202-362-5800 Office
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