Posts Tagged ‘real estate listings in McLean Virginia

07
Nov
12

State of the McLean, VA Housing Market – Quarter End 9/30/12

There is a popular saying among top economists: “As goes housing, so goes the economy.”

Normally, nationwide housing and housing-related services account for about 15-19% of the Gross Domestic Product (GDP), depending on the year. However, broad generalizations such as: “It’s a great time to buy,” don’t even begin to tell the whole story, particularly in Northern Virginia. In order to fully understand our local housing market, the statistics need to be broken down into meaningful components which can be understood and applied by the average home owner and potential buyer.

This analysis provides a snapshot in time of our constantly changing local real estate market. Hopefully, it will provide you with a more detailed and accurate picture of what is happening in our market today.

Based on the current data, the real estate markets in our area can be characterized in one of three ways:

Buyers’ Market – More Active Listings (Supply) than Sold and Under Contract Listings (Demand)

Balanced Market – An Equal Number of Active Listings (Supply) as compared to Sold and Under Contract Listings (Demand)

Sellers’ Market – More Sold and Under Contract Listings (Demand) than Active Listings (Supply)

22101 Market Analysis Table

Solds + Expireds +
Contracts Withdrawns
(4/1/12- Active (4/1/12-
List Price Range 9/30/12) Listings Difference 9/30/12)
$700,000-$899,999 68 23 45 or 66.18% 10
$900,000-$1,199,999 50 21 29 or 58.00% 12
$1,200,000-$1,499,999 40 17 23 or 57.50% 12
$1,500,000-$1,999,999 40 38 2 or 5.00% 8
$2,000,000-$2,499,999 13 13 0 or 0.00% 3
$2,500,000-$2,999,999 5 3 2 or 40.00% 3
$3,000,000+ 8 17 -9 or -112.50% 8

Summary of Zip Code 22101

$700,000 – $899,999Sellers’ Market. The number of homes sold between 4/1/12 and 9/30/12 combined with the number of properties currently under contract is 3 times the number of homes currently on the market (active listings). If you factor in the property listings that expired or were withdrawn from the market, there are still more than twice the number of sold properties plus under contract properties than currently listed properties, and this price range is still a sellers’ market.

$900,000 – $1,199,999Sellers’ Market. The number of homes that sold between 4/1/12 and 9/30/12 plus the number of currently under contract properties is more than 2 times the number of homes currently listed for sale. If you factor in the property listings that were withdrawn from the market or listings that expired, there are still 1 ½ times the number of sold properties plus under contract properties than currently listed properties, and this price range is still a sellers’ market.

$1,200,000 – $1,499,999Sellers’ Market. The number of homes that sold between 4/1/12 and 9/30/12 plus the number of currently under contract properties is more than 2 times the number of homes currently listed for sale. If you factor in the properties that were withdrawn from the market or listings that expired, this price range is more balanced.

$1,500,000 – $1,999,999Balanced Market. The number of homes currently on the market is almost equal to the number of homes sold between 4/1/12 and 9/30/12 and under contract properties combined, so it is effectively a balanced market. If you factor in the 8 property listings that were withdrawn or expired, this price range would shift to a buyers’ market.

$2,000,000 – $2,499,999Balanced Market. The number of homes currently on the market is equal to the number of properties that sold between 4/1/12 and 9/30/12 combined with the number of homes currently under contract. If you factor in the 3 property listings that were withdrawn or expired, this price range would be a buyers’ market.

$2,500,000 – $2,999,999Sellers’ Market. The number of homes currently listed for sale is slightly more than the number of homes sold between 4/1/12 and 9/30/12 plus the number of properties currently under contract. If you factor in the properties that were withdrawn from the market or expired listings, this price range becomes a balanced market.

$3,000,000 and upBuyers’ Market. The number of homes currently on the market is more than 2 times the number of properties sold between 4/1/12 and 9/30/12 and the number of currently under contract listings combined. The number of withdrawn and expired listings, if they were put back on the market, would make the number of active listings more than 3 times the number of sold plus under contract listings and make this price range a stronger buyers’ market.

22102 Market Analysis Table

Solds + Expireds +
Contracts Withdrawns
(4/1/12- Active (4/1/12-
List Price Range 9/30/12) Listings Difference 9/30/12)
$700,000-$899,999 29 8 21 or 72.41% 2
$900,000-$1,199,999 29 6 23 or 79.31% 3
$1,200,000-$1,499,999 18 11 7 or 38.89% 4
$1,500,000-$1,999,999 15 17 -2 or -13.33% 3
$2,000,000-$2,499,999 6 6 0 or 0.00% 5
$2,500,000-$2,999,999 5 11 -6 or -120.00% 4
$3,000,000+ 7 30 -23 or -328.57% 5

Summary of Zip Code 22102

$700,000 – $899,999Sellers’ Market. The number of properties sold between 4/1/12 and 9/30/12 combined with the number of under contract listings is more than three times the number of homes currently on the market (active listings). If you factor in the properties that were withdrawn from the market or expired listings, there are still close to 3 times the number of sold properties plus under contract properties as the number of active listings.

$900,000 – $1,199,999Sellers’ Market. The number of properties sold between 4/1/12 and 9/30/12 combined with the number of under contract listings is more than four (almost five) times the number of homes currently on the market. If you factor in the properties that were withdrawn from the market and listings that expired, there are still more than 3 times the number of sold properties plus under contract properties as the number of active listings.

$1,200,000 – $1,499,999Sellers’ Market. The number of properties sold between 4/1/12 and 9/30/12 plus the number of under contract listings is more than the number of homes for sale. If you factor in the properties that were withdrawn from the market and listings that expired, this price range shifts from a sellers’ market to a balanced market.

$1,500,000 – $1,999,999Balanced Market. There is an almost equal number of homes for sale as number of homes sold between 4/1/12 and 9/30/12 plus under contract homes. If you factor in the number of properties that were withdrawn from the market and listings allowed to expire, this price range becomes a buyers’ market.

$2,000,000 – $2,499,999Balanced Market. The number of properties for sales is exactly equal to the number of homes sold between 4/1/12 and 9/30/12 plus the number of homes currently under contract. If you factor in the properties that were withdrawn from the market and listings that expired, this price range shifts from a balanced market to a buyers’ market.

$2,500,000 – $2,999,999Buyers’ Market. The number of homes listed for sale is more than 2 times the number of homes sold between 4/1/12 and 9/30/12 combined with the number of properties currently under contract. If you factor in the properties that were withdrawn from the market and listings that expired, there would be 3 times the number of homes on the market as sold homes combined with the number of properties currently under contract and it would become an even stronger buyers’ market.

$3,000,000 and upStrong Buyers’ Market. The number of homes currently listed for sale is more than 4 times the number of homes sold between 4/1/12 and 9/30/12 plus the number of homes currently under contract. If you factor in the properties that were withdrawn from the market and listings that expired, there would be 5 times the number of homes on the market as sold homes combined with the number of properties currently under contract and it would become an even stronger buyers’ market.

For more information on the McLean real estate market, please contact Tania Hosmer at TaniaHosmer@gmail.com or (703) 403-8225

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06
Nov
11

Just Sold – McLean, VA 22101 – Week of 10/30/11-11/15/11

Just Sold – McLean, VA 22101 – Week of 10/30/11-11/5/11

Six (6) homes sold and settled in McLean, VA 22101 this past week (10/30/11-11/5/11):

Address Sold Price   Subdivision Style Type Beds  Full Baths Close Price
1144 WIMBLEDON DR $635,000   KINGS MANOR TH Traditional Townhouse 4 2 $635,000
6522 ELNIDO DR $640,000   EL NIDO ESTATES Rambler Detached 3 2 $640,000
7200 BELTON CT $672,000   WEST LEWINSVILLE HTS Split Level Detached 4 3 $672,000
1955 MASSACHUSETTS AVE $900,000   FRANKLIN PARK Split Level Detached 5 3 $900,000
1707 JAMES PAYNE CIR $1,159,000   CHESTERBROOK HILLS Colonial Detached 5 3 $1,159,000
1173 DOLLEY MADISON BLVD $2,700,000   BALLANTREE FARMS Colonial Detached 6 7 $2,700,000

For more information on these listings, here is a link to the complete listings:

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1582934X2DOF&p=DE-152907805-538

If you have any questions about these or any other listings in McLean, VA, please don’t hesitate to contact me at taniahosmer@gmail.com or 703-403-8225.

06
Nov
11

Just Listed – McLean, VA 22101 – Week of 10/30/11-11/5/11

Just Listed – McLean, VA 22101 – Week of 10/30/11-11/5/11

Three (3) homes were listed in McLean, VA 22101 this past week (10/30/11-11/5/11):

Address List Price   Advertised Sub Style Type Beds Baths
1823 RUPERT ST $579,000   DEVON PARK Split Detached 4 2 1/2
1448 HAMPTON RIDGE DR $1,150,000   HAMPTONS OF MCLEAN Colonial Townhouse 3 3 1/2
7108 BENJAMIN ST $1,200,000   LANGLEY FOREST Colonial Detached 4 3

For more information on these listings, here is a link to the complete listings:

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1582934X2DOF&p=DE-152906502-719

If you have any questions about these or any other listings in McLean, VA, please don’t hesitate to contact me at taniahosmer@gmail.com or 703-403-8225.

15
Oct
11

Just Listed – McLean, VA 22101 – Week of 10/8/11-10/15/11

Just Listed – McLean, VA 22101 – Week of 10/8/11-10/15/11

Seven (7) homes were listed in McLean, VA 22101 this past week (10/8/11-10/15/11):

Address List Price   AdvertisedSubdivision Style Beds Baths
6900 LEMON RD $685,000   DEVON PARK Split Level 4 2 1/2
1450 EMERSON AVE #310 $875,000   PALLADIUM AT MCLEAN Colonial 2 2 1/2
5951 RANLEIGH MANOR DR $1,049,000   RANLEIGH Colonial 5 4 1/2
6018 CHESTERBROOK RD $1,175,000   CHESTERBROOK WOODS Colonial 4 4
6012 CLAIBORNE DR $1,200,000   POTOMAC HILLS Colonial 5 4 1/2
1126 BUCHANAN ST $1,950,000   WALTER HEIGHTS Craftsman 5 4 1/2
681 CHAIN BRIDGE RD $2,495,000   MARCY PARK French Country 5 5 1/2

For more information on these listings, here is a link to the complete listings:

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1582934X2DOF&p=DE-151427329-965

If you have any questions about these or any other listings in McLean, VA, please don’t hesitate to contact me at taniahosmer@gmail.com or 703-403-8225.

25
Jun
11

Recently Listed in McLean, VA 22101 – Past 2 Week – June 9, 2011 – June 23, 2011

Recently Listed in McLean, VA 22101 – Past 2 Weeks

Twenty-three (23) properties were listed for sale in the past 2 weeks (June 9, 2011 – June 23, 2011) in the postal code area of 22101 of McLean, VA  with six (6) already under contract.

Ten (10) are listed for under $1,000,000.  Seven (7) are listed between $1,000,000 and $2,000,000.  Three (3) are listed between $2,000,000 and $2,500,000.  Two (2) are listed between $3,000,000 and $4,000,000. One (1) is listed for over $5,000,000.

Status ML# Address List Price Subdivision DOM
CONTRACT FX7632293 1804 BIRCH RD $570,000 EL NIDO ESTATES 0
ACTIVE FX7623465 6626 MCLEAN CT $625,000 OLD DOMINION SQUARE 14
ACTIVE FX7628794 1410 DOLLEY MADISON $629,000 BEVERLY MANOR 8
CNTG/NO KO FX7628398 1647 WRIGHTSON DR $687,800 WEST GRASS RIDGE 4
ACTIVE FX7628738 1521 EMERSON AVE $699,900 BRYN MAWR CLUSTER 8
ACTIVE FX7624509 7021 ENTERPRISE AVE $700,000 BROYHILLS MCLEAN ESTS 13
CNTG/NO KO FX7625045 1714 BALDWIN DR $740,000 W LEWINSVILLE HEIGHTS 13
CONTRACT FX7627469 3959 DUMBARTON ST $829,000 COUNTRY ACRES 5
ACTIVE FX7624414 7201 EVANS MILL RD $899,000 EVANS MILL POND 14
ACTIVE FX7623482 1701 CRESCENT LN $989,000 CLAUDE H SMITH PROP 14
ACTIVE FX7627363 1420 JULIA AVE $1,149,900 SALONA VILLAGE 9
ACTIVE FX7634188 2013A LORRAINE AVE $1,198,750 FRANKLIN PARK 0
CNTG/NO KO FX7626154 6505 ANNA MARIA CT $1,249,000 LANGLEY OAKS 11
CNTG/NO KO FX7624350 2007 FRANKLIN AVE $1,325,000 FRANKLIN FOREST 5
ACTIVE FX7631762 1841 WESTMORELAND ST $1,458,000 KENT GARDENS 3
ACTIVE FX7626957 6053 RAMSHORN PL $1,899,000 LANGLEY 10
ACTIVE FX7634161 6517 BRAWNER ST $1,950,000 SALONA VILLAGE 1
ACTIVE FX7633036 898 HELGA PL $2,055,000 BEAUFORT PARK 2
ACTIVE FX7628694 1945 ROCKINGHAM ST $2,295,000 FRANKLIN PARK 8
ACTIVE FX7628734 2023 ROCKINGHAM ST $2,495,000 FRANKLIN PARK 8
ACTIVE FX7627324 1100 WAVERLY WAY $3,275,000 LANGLEY FARMS 9
ACTIVE FX7626344 6901 BENJAMIN ST $3,775,000 LANGLEY FOREST 10
ACTIVE FX7625481 825 CLINTON PL $5,600,000 LANGLEY FOREST 11

Below is a link to the complete MRIS listings for these properties which include more details like lot size, number of bedrooms and bathrooms, tax assessment and photographs.

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1582934X2DOF&p=DE-143161434-437

If you have any questions about the information contained in my blog, please feel free to contact me at taniahosmer@gmail.com.

09
Jun
11

Can You “Time the Market”?

Can You Time the Market?
Historical Contract Data in the Reserve in McLean, VA 22102
Is it possible to time the market?
Recently a neighbor asked, have we missed the opportunity to list our property and get a contract/sell it this year?  I based my answer on some generalizations and what we typically see in the real estate industry.  Generally, we see more properties come on the market in the Spring and a peak in sales and closings in June and July of each year.   However, there are 2 schools of thought.  If you list a property in an “off”season like the Fall or Winter, there will be less inventory and thus less competition for properties on the market.
Many families with children prefer to buy in the summer, so they can move and settle in before the beginning of the school year.  But, there are people who have to buy in the “off” months because of necessity or perceive more value in properties  on the market in the “off” seasons (i.e. that property prices are lower).
So can you really time the market?  What you need to do is price your home properly for current market conditions.  This means that you need to consider the following:
(1) recent sales of comparable properties,
(2) sold prices of recently sold comparable properties,
(3) how long they were on the market and any price changes,
(4) comparable properties currently under contract, their list prices, any price adjustments, and how long they were on the market,
(5) comparable properties currently on the market, their list prices, any price adjustments, and how long they have been on the market,
(6) comparable properties that were taken off the market, their list prices, any price adjustments, and how long they were on the market,
(7) how many comparable properties sold in the past 6 months,
(8) how many comparable properties are currently under contract, and
(9) how many comparable properties are currently on the market.
The last 3 numbered items will tell you about the balance of the market – whether it is a buyers’ or sellers’ market.
I decided to look into it further for my neighborhood (the Reserve in McLean, VA) and see if the data supports this argument.   I pulled all the historical sales data for the Reserve including the contract dates and this is what I found.
Below is a link to a pdf file containing the raw data.
Some years show peak numbers (of contracts) in the Spring, and some actually show peak numbers in the Summer, Fall and/or Winter months.  Some showed no peak month.  There does not seem to be any clear pattern.  I don’t see any month that stands out over others with more contracts, but rather I see a pretty even distribution throughout the months of the year and a different peak month year to year.  Each year is different and there is no consistency. And, of course, historical data doesn’t always predict what will happen in future years.
Based on this information, it is clear that you can not time the market and you should look at the current market conditions as outlined in the above-list.
If you have any questions about this post, the real estate market in McLean, or just want to work with a knowledgeable and experienced real estate agent, please contact me at 703-403-8225 or taniahosmer@gmailcom.
05
Jun
11

Recently Listed in McLean, VA 22101 – This Past Week – May 29, 2011 – June 5, 2011

Recently Listed in McLean, VA 22101 – This Past Week

Nineteen properties were listed for sale this week (May 29 – June 5, 2011) in the 22101 postal code area of McLean, VA  with 2 already under contract.  Nine are listed for under $1,000,000. Eight are listed between $1,000,000 and $2,000,000 and 2 are listed for over $2,000,000.

Status ML# Address List Price Advertised Subdivision
CNTG/NO KO FX7615792 6811 FELIX ST $670,000 LEWINSVILLE HEIGHTS
ACTIVE FX7615423 7104 WESTBURY RD $679,000 WEST LEWINSVILLE HEIGHTS
ACTIVE FX7618056 1447 WAGGAMAN CIR $799,900 SALONA VILLAGE
ACTIVE FX7614563 1409 COLA DR $849,900 POTOMAC HILLS
ACTIVE FX7616775 1703 STRINE DR $849,900 DANA HEIGHTS
ACTIVE FX7615503 6629 MADISON MCLEAN DR $899,000 MADISON OF MCLEAN
ACTIVE FX7616475 1352 PINE TREE RD $949,900 WESTMONT
ACTIVE FX7619017 5906 MOSS WOOD LN $975,000 MANORS AT CHAIN BRIDGE
ACTIVE FX7615186 1223 POTOMAC SCHOOL RD $987,500 EVERMAY
CNTG/NO KO FX7615826 924 RIDGE DRIVE $1,185,000 LANGLEY OAKS
ACTIVE FX7618131 1707 JAMES PAYNE CIR $1,249,000 CHESTERBROOK HILLS
ACTIVE FX7617045 6804 OLD CHESTERBROOKE RD $1,458,000 MCLEAN MANOR
ACTIVE FX7618916 1343 KIRBY RD $1,499,000 KIRBY WOODS
ACTIVE FX7618000 6900 LUPINE LN $1,595,000 PARKVIEW HILLS
ACTIVE FX7614494 1594 MADDUX LN $1,649,000 CHESTERBROOK FARM
ACTIVE FX7613823 6504 DIVINE ST $1,749,000 EL NIDO ESTATES
ACTIVE FX7618079 813 CARRIE CT $1,795,000 LANGLEY FOREST
ACTIVE FX7615880 7212 FARM MEADOW CT $2,095,000 EVANS FARM
ACTIVE FX7618788 1173 DOLLEY MADISON BLVD $3,500,000 BALLANTRAE FARMS

Below is a link to the complete MRIS listings for these properties which include more details like lot size, number of bedrooms and bathrooms, tax assessment and photographs.

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1582934X2DOF&p=DE-141664909-83

If you have any questions about the information contained in my blog, please feel free to contact me at taniahosmer@gmail.com.

18
May
11

Market Analysis for McLean, VA 22101 – Quarter End 3/31/11

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.

18
May
11

Market Analysis Comparison for McLean, VA 22101 – Quarter End 3/31/10 vs. Quarter End 3/31/11

Market Analysis Comparison for McLean, VA 22101

Quarter End 3/31/10 vs. Quarter End 3/31/11

I compared my market analyses for McLean, VA 22101 for the quarters ending 3/31/10 and 3/31/11 and compiled the data first into a table, then charted the data.  The table and chart are below.

Summary of 22101 Comparison

All of the price ranges stayed virtually stable except the following two:

  • $1,500,000 – $1,999,999 – between the first quarter of 2010 and the first quarter of 2011, this range became a stronger buyers’ market, or slightly better for buyers.
  • $2,000,000-$2,499,999 – between the first quarter of 2010 and the first quarter of 2011, this range shifted from a balanced market to a buyers’ market, or slightly better for sellers.
  • $2,500,000 – $2,999,999 – between the first quarter of 2010 and the first quarter of 2011, this range also became a stronger buyers’ market.

If you have any questions about this post or about the McLean-Great Falls real estate market, please don’t hesitate to contact me at taniahosmer@gmail.com.

14
May
11

Comparison of Withdrawn and Expired Listings for 22101

Comparison of Withdrawn and Expired Listings for 22101

The changes in the number of Withdrawn and Expired listings from one year to the next or one quarter to the next gives a good indication of sellers’ expectations.

The numbers have been adjusted to exclude the properties that were put back on the market.

From quarter end 3/31/10 to quarter end 3/31/11, the number of withdrawn and expired listings for the price range of $1,200,000-$1,499,999 increased from 12 to 17.   This indicates that more sellers are not getting the prices that they expect and are taking them off of the market.

For the price range of $2,000,000 – $2,499,999, the number of withdrawn and expired listings dropped from 8 to 4 (or by half).  For the price range of $2,500,000 – $2,999,999, the number of withdrawn and expired listings dropped from 6 to 3 (or by half).  For the price range of $3,000,000 and up the number of withdrawn and expired listings dropped from 4 to 1 (or 75%). This indicates that more sellers are getting the price that they expect for their houses.




“it’s not your father’s real estate market anymore” ®

Tania Hosmer

Tania grew up in Northern Virginia and is a life long resident of the area. She has lived in McLean, Virginia with her husband and 2 children since 2001. She holds a bachelor’s degree in Physics from Mary Washington College and an MBA in Finance from The George Washington University. Tania began her real estate career over 20 years ago. In addition to real estate sales, her experience includes managing residential renovation projects in the greater Washington area, planning and overseeing new residential construction and managing rental properties. After completing her MBA in 1996, she joined CIG International (a Washington-based residential real estate investment firm) as Vice President where she conducted extensive due diligence investigations of real estate investment opportunities and oversaw ongoing investment projects. Tania became a residential real estate agent in 2006.

Contact Information:

Tania Hosmer
Keller Williams Realty
6820 Elm Street, Suite 100
McLean, Virginia 22101
cell: 703-403-8225
email: taniahosmer@gmail.com
website: www.taniahosmer.com

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Disclaimer:

If your home is currently listed with another broker, this is not intended as a solicitation of that listing.

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