McLean, VA

McLean, VA has seen some interesting developments over the past month from July 2008. For 22102, the median sales price has fallen by 39%, but the average is only 1.6% down. This is a testament to where the activity is - in the lower price ranges. 22102 is dominated by detached property sales (39 of the 49 total sales in July were detached/single-family homes). For 22101, both the average AND median sales prices have fallen 25% since July 2008. The properties that sold in 22101 was evenly split between townhomes, condos, and detached properties. Here's the breakdown:

22101

49 Total Sales

Detached Properties

Price Range: $416,000 - $2,590,000

Average: $952,752
Average Days on the Market (Property): 72

Townhomes

Price Range: $520,000 - $1,185,000

Average: $729,480
Average Days on the Market (Property): 50

22102

28 Total Sales

Detached Properties

Price Range: $775,000 - $4,150,000

Average: $1,786,444
Average Days on the Market (Property): 130

Townhomes

Price Range: $291,000 - $740,000

Average: $518,640
Average Days on the Market (Property): 80

2 bedroom, 2 bath Condo

Average: $300,000
Average Days on the Market (Property): 56

While they say 75% of all statistics are lies (ha!), you can see the numbers show it's a great time to buy in McLean. For a more detailed Free Comparative Market Analysis with specifics about an individual property, please call or email me!

Laura@TheLJRGroup.com
703.283.6120

That's my RE/MAX Allegiance office in McLean, Virginia.

We're located at

6226 Old Dominion Drive, McLean, VA 22101

Stop on by and say hello. I'm the Managing Broker of the office and either myself or one of our 40 terrific agents can help you with any of your McLean, Virginia real estate needs.

SO...

What's Happening in the McLean, Virginia Real Estate Market?

Here's a snapshot of McLean Virginia home sales in the last 30 days:

MCLEAN VIRGINIA HOME SALES:

• Active homes for sale: 358 (including 50 new listings in the last 30 days). This is a 14% decrease in inventory from two months ago! Why? McLean homes are selling and are going under contract. However, there are still quite a few homes to choose from in McLean.
  
  
• Homes sold in the last 30 days: 66 -- or over 2 McLean homes per day for the last month.
  
  
• Average Sales Price: $983,197, a big increase from the average of $905,272 two months ago.
  
  
• Median Sales Price: $850,000
  
  
• Average Days on Market: 62 -- McLean homes are selling quickly. Two months ago this figure was 71 days!
  
  
• Average Sales Price/Original Listing Price: 93.17% This number is up about 1/2% from the previous figure indicating that either homes are being priced more realistically or that buyers have slightly less negotiating power.

Interesting Notes:

There are 228 homes or nearly 64% the homes on the market in McLean priced at $1 million or more.

There's an additional 133 McLean homes under contract that will be going to settlement soon.

The McLean real estate market remains hot!

** Find a Home in McLean **

Contact Brian Block, Managing Broker, RE/MAX Allegiance, McLean:
Licensed in Virginia & Washington D.C. 703-626-0715.
If you are interested in purchasing or selling a property in McLean or elsewhere in Northern Virginia or Washington D.C., contact Brian today.

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 July 2009. All information was obtained through MRIS.

Overall, there were 90 sales topping $1 million during the month of July 2009, keeping pace with the 92 $1M+ sales in June.

JULY'S MOST EXPENSIVE SALES

Single Family Detached Homes:

• 1201 Towlston Road, McLean, VA 22102 -- Sold on July 31st for $4,150,000.
  After a $1 million price reduction, this home sold for $825K below the asking price. This 7 bedroom home on 5 acres within 3 miles of Tysons Corner features almost 11 square feet of space and green design. It was built in 2007.
  
  
• 8104 Spring Hill Farm Drive, McLean, VA 22102 -- Sold on July 28th for $3,850,000.
  Built in 2008, this almost 8,000 suare foot home features three finished levels and 5 bedrooms, 5 full and 2 half bathrooms. It sold for $350K under the asking price of $4.2M.
  
  
• 917 Douglass Drive, McLean, VA 22101 -- Sold on July 7th for $2,590,000.
  This brick colonial home features 4 upper level bedroom suites. Built in 1996, it sits on 3/4 of an acre and has 3 fireplaces. It went for $405K under asking price.
  
  
• 10351 Elizabeth Street, Great Falls, VA 22066 -- Sold on July 31st for $2,400,000.
  With over 12,000 square feet of space, this massive 1 year old home also has a 4 car garage. On 2 acres, this house has 7 bedrooms and as many bathrooms. There's also a tennis court on this cul-de-sac lot. The home sold for $199K under the asking price.
  
  
• 1303 Kirby Road, McLean, VA 22101 -- Sold on July 9th for $2,225,000.
  After a price reduction of $250,000, this home then sold for another $225K under listing price. In the Langley Reserve area of McLean, this 2006 home features a master bathroom with heated floors, 5 bedrooms and 6 full bathrooms.

While luxury homes continue to sell at a good pace, you can see from above that they are going for well below the original asking prices.

CLICK TO SEARCH FOR AVAILABLE SINGLE FAMILY HOMES IN NORTHERN VIRGINIA

Townhouses:

• 225 N. Royal Street, Alexandria, VA 22314 -- Sold on July 10th for $1,225,000.
  In a prime Old Town Alexandria location, this Victorian townhouse built in 1875 was completely renovated and the kitchen overlooks a great 4 season garden. It sold after just 15 days on the market at asking price.
  
  
• 302 S. Fayette Street, Alexandria, VA 22314 -- Sold on July 31st for $1,220,000.
  This courtyard style townhouse in Old Town Village features 2,780 square feet of space with over $150K of designer upgrades. It also has two gardens.
  

• 5706 Cricket Place, McLean, VA 22101 -- Sold on July 16th for $1,185,000.
  Originally built in 1978, this townhouse in Merrywood on Potomac was renovated and has a kitchen with the best appliances: Subzero, Dacor, and Kitchenaid. The bathrooms were redone with granite and marble and custom built-ins. The townhouse had nearly 4,000 square feet of space.
  
  
• 1036 N. Stafford Street, Arlington, VA 22201 -- Sold on July 1st for $965,000.
  Selling for just $20K under the asking price, this Bromptons at Ballston townhouse is right in the heart of N. Arlington. It has 3 bedrooms 3.5 bathrooms and a 2 car garage.
  

SEE AVAILABLE TOWNHOUSES IN NORTHERN VIRGINIA

Condominiums:

• 1111 N. 19th Street #2302, Arlington, VA 22209 -- Sold on July 3rd for $1,005,000.
  A corner unit at Waterview Residences provides views of the Potomac River, Key Bridge, and Georgetown through the floor to ceiling windows. The condo is atop the the Hotel Palomar and room service is available -- how do you like that?
  
  
• 1200 N. Nash Street #854, Arlington, VA 22209 -- Sold on July 31st for $830,000.
  Prospect House is perenially one of the favorite luxury condos in Arlington. Why? The view. This 8th floor unit offers breathtaking views of the DC monuments and skyline from the large balcony and two story living room. The 2 bedroom condo has 1,398 square feet of space.
  
  
• 2001 N. 15th Street #1212, Arlington, VA 22201 -- Sold on July 15th for $825,000.
  This condo at the Odyssey was reduced over $300K from the original asking price. It was professionally decorated at a cost of over $100K and also has great views from the floor to ceiling windows in the 1635 square foot unit.
  
  
• 2121 Jamieson Avenue #1104-1105, Alexandria, VA 22314 -- Sold on July 9th for $790,000.
  1,745 square feet of space make this Carlyle Towers condo very spacious. 3 bedrroms and 2 baths plus add the 216 square foot glass enclosed balcony.
  

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.

1 property sold in the Gates of McLean in Tysosn corner in July 2009. It was a bank owned property on the top floor of building 1580. This property was on the market for 16 days, and it had multiple offers. It was originally asking $190,971, and sold for $193,000 in CASH. The one bedroom one bathroom home was a 642 square foot Chelsea model. There was no seller subsidy to the buyer in this transaction. The price per square foot was $300.62.

July of 2009 compared very poorly in terms of number of transactions to the same month last year (July 2008). In July 2008 there were 7 home sold. Although it was only one property this past month (July 2009) we did have improvements in both areas of price per square foot and days on market average where last year they had $293.27 and 67.5 respectively.

In July 2009 there were also 7 homes that rented. They ranged from a low of a $1,200 a month for a one bedroom one bathroom to a high of $1,550 for a 2 bedroom 2 bathroom.

Right now there are 10 properties available at the Gates of McLean. 2 of those are for sale, both are one bedrooms in Garden style buildings. The other 8 properties are rentals. Here is a graphic of all of them =



data from MRIS

4 homes sold in the Fountains at McLean in Tysons Corner in July 2009. All four of those sold properties were 2 bedroom 2 bathroom homes. The models were: Oak, Willow, Oak, and Dogwood. One of the 4 was in a mid-rise, secure building. The other 3 were in Garden Style buildings. The high sold price was $315,000. The low sold price was $285,000. 2 of the properties were REO, bank-owned properties, more commonly referred to as foreclosures. One was a short sale. And one was a traditional sale. The July 2009 Fountains at McLean real estate statistics for sold properties are = [1] average of $293.23 per square foot + [2] average of 38.75 days on the market.

July 2009 kept a steady pace with July of 2008, as they both had 4 SOLD properties at this Tysons Corner Condo community. Last years statistics were = [3] $311.85 per square foot and [4] and an average of 79.5 days on the market. So this year the sold statistics for the month of July improved in market time, but had a decrease in the price per square foot.

In July 2009 there were also 4 properties rented. 2 were one bedrooms, and 2 were two bedroom properties.

Currently there are 13 properties on the market in the Fountains at Mclean. 6 are for RENT, and the other 7 are for Sale. Here is a graphic of those properties =




data from MRIS