McLean Real Estate News

McLean-Great Falls Market Analysis

(10/1/09-3/31/10)

Tables 1, 2 and 3 and Charts 1, 2 and 3 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 10/1/09 – 3/31/10.  Copies of these tables and charts are attached in a pdf file.  Below is a link to that pdf file:

First Quarter 2010 Analysis

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• $1,200,000 – $1,499,999 – If you factor in the withdrawn and expired listings, this range is balanced.
• $1,500,000 – $2,499,999 – Balanced Market (the number of active listings is equal to the number of sold and under contract listings) without factoring in the withdrawn and expired listings.  If people decide to put their withdrawn listings back on the market, the balance would shift to a Sellers’ Market.
• $2,500,000 and up – Buyers’ market (the number of active listings is greater than the number of sold and under contract listings)
• $3,000,000 and up – If you factor in the withdrawn and expired listings, the range becomes a strong buyers’ market.

22102

• $700,000 – $1,199,999 – Sellers’ Market
• $900,000 – $1,199,999 – If you factor in the withdrawn and expired listings, this range is balanced.
• $1,200,000 – $1,499,999 – Balanced Market (without factoring in the withdrawn and expired listings)
• $1,200,000 – $1,499,999 – The amount of withdrawn and expired listings could almost double the number of active listings and shift the market from balanced to a buyers’ market.
• $1,500,000 – $1,999,999 – Buyers’ Market
• $2,000,000 and up – Strong Buyers’ Market 
• $2,000,000 – $2,999,999 – There are 7 times the number of active listings as sold and under contract listings.
• $3,000,000 and up – There are 5 times the number of active listings as sold and under contract listings.

22066

• $700,000 – $899,999 – Sellers’ Market
• $900,000 – $1,199,999 – Balanced Market
• $1,200,000 – $2,999,999 – Buyers’ Market (If you factor in the withdrawn and expired listings, this 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.)

In a few days, I will post a comparison of the past 3 quarters.

If you have any questions about the McLean-Great Falls real estate market, please don’t hesitate to contact me at tania@hbgroup.us.