Real Estate Trends in McLean, Virginia 22102
For Sale
There were close to 22% fewer properties listed for sale in October 2011 (111) as compared to October 2010 (142). In October 2011, 25 condominiums, 85 detached homes and 1 town home were listed for sale in McLean, VA 22102. However, there were 28% more new listings (32) in October 2011 versus October 2010 (25).
Contracts
There were more new contracts in October 2011 (26) versus October 2010 (21). However, the total number of outstanding pending contracts in October 2011 (39) was 9% less than October 2010 (43).
Solds
A total of fourteen (14) homes sold in October 2011, down more than 33% from the same time last year and down more than 50% from September 2011. Eight (8) condominiums sold in October 2011 while only 4 single family homes and 2 town homes sold during the month of October. In October of 2010, a total of 21 homes sold (13 condos, 7 single family and 1 town home).
Sold Prices
Average sold prices for detached homes were up over 11% from $1,881,429 in October 2010 to $2,105,100 in October 2011, average sold prices for town homes were also up close to 17% from $575,000 in October of 2010 to $672,500 in October 2011, and average sold prices for condominiums were down almost 12% from $293,608 in October 2010 to $259,938 in October 2011. The ratio of sold price to original list price stayed stable at close to 93% in October 2011, or unchanged from October 2010.
Days on Market
Average days on the market were up 100% from 38 in September 2011 to 76 in October 2011 and down over 51% from 156 in October 2010 to 76 in October 2011.
McLean Real Estate News 