Market Analysis for McLean, VA 22101 – Quarter End 3/31/11
The following table and chart compare the number of active listings (the supply) to the number of properties sold or under contract (the demand) in the local real estate market of McLean 22101 by price range for the period from 9/30/10 – 3/31/11. To get an enlarged view of the table or chart, click on them.
This analysis is a snapshot in time. The real estate market constantly changes just like any other market. However, this is an accurate picture of the local real estate market at this point in time. Based on the balance, the market can be characterized three ways:
Buyers’ Market – More Active Listings (Supply) than Sales and Under Contract Listings (Demand)
Balanced Market – An Equal Number of Active Listings (Supply) vs. Sales and Under Contract Listings (Demand)
Sellers’ Market – More Sales and Under Contract Listings (Demand) than Active Listings (Supply)
22102 Summary
- $700,000 – $1,499,999 – Sellers’ Market
- $1,200,000 – $1,499,999 – If you factor in the amount of withdrawn and expired listings, the number of active listings would increase by over 100% and shift the market from a sellers’ market to a buyers’ market.
- $1,500,000 – $2,499,999 – Buyers’ Market (without factoring in the withdrawn and expired listings)
- $1,500,000 – $1,999,999 – If you factor in the withdrawn and expired listings, the number of active listings would be over 2 times the number of sold plus under contract listings.
- $2,000,000 – $2,499,999 – The number of active listings is over 3 times the number of sold and under contract listings combined.
- $2,500,000 – $2,999,999 – Strong Buyers’ Market
- $2,500,000 – $2,999,999 – There are 4 times the number of active listings as sold and under contract listings combined.
- $3,000,000 and up – Buyers’ Market
- $3,000,000 and up – There are over twice the number of active listings as sold and under contract listings combined.
If you have any questions about the McLean-Great Falls real estate market, please don’t hesitate to contact me at taniahosmer@gmail.com.
