Posts Tagged ‘real estate market trends in McLean Virginia

02
Dec
11

Real Estate Trends in McLean, Virginia 22102

By Tania Hosmer Leave a Comment
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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.

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23
Nov
11

Market Statistics – October 2011 – McLean VA 22101

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Market Statistics – October 2011 – McLean VA 22101

Statistic Values YoY MoM
Total Sold Dollar Volume $27,744,450 -14.71% -19.19%
Closed Sales 25 +13.64% -26.47%
Median Sold Price $695,000 -24.51% -16.97%
Avg Sold Price $1,109,778 -24.95% +9.9%
Avg Days on Market 40 days -51.22% -31.03%
Avg Sold to Orig List Ratio 95.98% +1.08% +1.89%

Oct-11  Oct-2010  % Change
Active Listings 179 152 17.76%
New Listings 54 44 22.73%
New Under   Contracts 10 11 -9.09%
New Contingents 24 11 118.18%
New Pendings 34 22 54.55%
Total Pendings 46 47 -2.13%

If you have any questions about these statistics or would like to discuss them or current real estate market conditions, I follow the market trends very closely and would be happy to discuss them with you.  I can be reached by email at taniahosmer@gmail.com or phone at 703-403-8225.

21
Jun
11

McLean, VA 22102 Housing Market – Comparative Analysis – Quarter End 3/31/10 vs. Quarter End 3/31/11

By Tania Hosmer Leave a Comment
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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 like, “It’s a great time to buy,” don’t even begin to tell the whole story, particularly here in Northern Virginia.  To further understand our local housing market, the statistics need to be compared from quarter to quarter or year to year, so that the average home owner and potential buyer can see the trends in the local housing market.

Hopefully, this analysis will provide you with a more detailed and accurate picture of what is happening in our local housing market.

Housing Market Comparative Analysis for McLean, VA 22102

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

I compared my market analyses for McLean, VA 22102 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.  For a larger view of either the table or chart, click on them.

Summary of 22102 Comparison

  • $700,000 – $1,199,999 – between the first quarter of 2010 and the first quarter of 2011, this range stayed relatively stable as a sellers’ market.
  • $1,200,000 – $1,499,999 – between the first quarter of 2010 and the first quarter of 2011, this range stayed relatively stable as a balanced market.
  • $1,500,000 – $1,999,999 – between the first quarter of 2010 and the first quarter of 2011, this range stayed relatively stable as a buyers’ market.
  • $2,000,000-$2,499,999 – between the first quarter of 2010 and the first quarter of 2011, this range became a weaker buyers’ market, or better for sellers.
  • $2,500,000 – $2,999,999 – between the first quarter of 2010 and the first quarter of 2011, this range stayed relatively stable as a strong buyers’ market.
  • $3,000,000+ – between the first quarter of 2010 and the first quarter of 2011, this range became a weaker buyers’ market, or better for sellers’.

Please refer to my previous post for the quarter end 3/31/10:

https://mcleanrealestate.wordpress.com/2010/06/08/first-quarter-2010-market-analysis-for-mclean-great-falls/

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.

12
Jun
11

McLean, VA 22101 – Multiple Listing Service Statistics – May 2011

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McLean, VA 22101 – Multiple Listing Service Statistics – May 2011

Here are 2 jpeg files containing the latest market statistics for McLean VA 22101 from the local multiple listing service (click on files to see larger views):

Here are links to pdf files of the statistics (which are easier to read):

22101 May 2011 Stats

22101 May 2011 Stats 2

The statistics show the following changes from May 2010 to May 2011:

  • a decrease in number of total contracts form 82 to 69 (broken down as follows):
    • non-contingent contracts from 37  to 31
    • a decrease in number of contingent contracts from 45 to 38
  • a 14.39% increase in dollar volume for the month
  • a 4.3% increase in average sold price
  • a 9.68% increase in units sold from 31 to 34
  • a small decrease in average sales price to original list price ratio of 2.84%
  • a 66.67% decrease in number of attached units sold
  • a 40.91% increase in number of detached units sold from 22 to 31
  • a decrease in the number of days on the market of 26.55%

34 properties sold in McLean VA 22101 in May of 2011.  As of May 31, 2011, 163 properties were on the market and 69 properties were under contract.

As compared to May 2010, the number of active listings was down by 5.23% and the number of contracts was down 15.85%, but the number of properties sold was up by 9.68%.

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

“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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