McLean Real Estate News

McLean-Great Falls Market Analysis

(6/30/09-12/31/09)

Tables 1, 2 and 3 and Charts 1, 2 and 3 in the attached .pdf file (McLean Great Falls Market Analysis) compare the number of active listings (the supply) to the number of properties sold or under contract (the demand) in the local real estate markets of McLean and Great Falls (zip codes 22101, 22102 and 22066) by price range for the period from 6/30/09 – 12/31/09.  Based on the balance, the markets 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)

22101

• $700,000 – $1,499,999 – Sellers’ market (fewer active listings than sold and under contract listings)
• $1,200,000-$1,499,999 – If you factor in the withdrawn and expired listings, the range is balanced.
• $1,500,000 and $1,999,999 – Balanced market (without factoring in the withdrawn and expired listings)
• $2,000,000 to $2,499,999 – Sellers’ market (more sold and under contract listings than active listings)
• $2,000,000 to $2,499,999 – If you factor in the withdrawn and expired listings, the range is balanced. 
• $2,500,000 – $2,999,999 – Balanced market (the number of active listings is equal to the number of sold and under contract listings)
• $2,500,000 – $2,999,999 – There are twice as many withdrawn and expired listings (8 total) as sold or under contract listings (4 total) which could cause an imbalance to a buyers’ market (if those property owners decide to put their homes back on the market).
• $3,000,000 and up – Strong buyers’ market (only 2 sales and under contract listings from 6/30/09 – 12/31/09 vs. 13 active listings as of 12/31/09)
• $3,000,000 and up – There are 11 listings that were withdrawn or expired in the same time frame which makes the market an even stronger buyers’ market.

22102

• $700,000 – $1,199,999 – sellers’ market
• $900,000 – $1,199,999 – If you factor in the withdrawn and expired listings, the range is balanced.
• $1,200,000 – $1,499,999 – balanced market (without factoring in the withdrawn and expired listings)
• $1,200,000 – $1,499,999 – The amount of withdrawn and expired listings could double the number of active listings and shift the market from balanced to a buyers’ market.
• $1,500,000 – $2,499,999 – buyers’ market (without factoring in the withdrawn and expired listings)
• $2,000,000 – $2,499,999 – There are 2 times the number of active listings as sold and under contract listings.
• $2,500,000 and up – strong buyers’ market (There are 3 times the number of active listings as sold and under contract listings.)

22066

• $700,000 – $1,199,999 – sellers’ market
• $900,000 – $1,199,999 – If you factor in the withdrawn and expired listings, the range is balanced.
• $1,200,000 – $2,999,999 – buyers’ market (If you factor in the withdrawn and expired listings, the range is a strong buyers’ market.)

$3,000,000 and up – strong buyers’ market (There are 4 times as many active listings as sold and under contract listings.