State of the Real Estate Market for McLean, VA 22102
Quarter End 12/31/11
Please refer to the following link for my market analysis of McLean, Virginig 22102 for the quarter ending 12/31/11.
http://reserverealestatenews.com/2012/01/07/market-analysis-comparison-for-22102-mclean-va-2/
If you would like to discuss the trends in the McLean-Great Falls real estate market, please don’t hesitate to contact me at TaniaHosmer@gmail.com.
State of the Real Estate Market for McLean, VA 22101
Quarter End 12/31/11
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, VA 22101 by price range for the period from 6/30/11 – 12/31/11.
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 markets can be characterized in one of 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)
| Solds + | Expireds + | |||||||||
| Contracts | Withdrawns | |||||||||
| Type of | (6/30/11- | Active | (6/30/11- | |||||||
| List Price Range | Market | 12/31/11) | Listings | Difference | 12/31/11) | |||||
| $700,000-$899,999 | Sellers’ | 62 | 14 | 48 | or | 77.42% | 25 | |||
| $900,000-$1,199,999 | Sellers’ | 40 | 12 | 28 | or | 70.00% | 19 | |||
| $1,200,000-$1,499,999 | Sellers’ | 24 | 15 | 9 | or | 37.50% | 12 | |||
| $1,500,000-$1,999,999 | Buyers’ | 24 | 33 | -9 | or | -37.50% | 15 | |||
| $2,000,000-$2,499,999 | Buyers’ | 5 | 12 | -7 | or | -140.00% | 9 | |||
| $2,500,000-$2,999,999 | Balanced | 5 | 5 | 0 | or | 0.00% | 4 | |||
| $3,000,000+ | Strong Buyers’ | 4 | 22 | -18 | or | -450.00% | 2 | |||
Summary of 22101
If you would like to dicsuss the trends in the McLean-Great Falls real estate market, please don’t hesitate to contact me at TaniaHosmer@gmail.com.
State of the Real Estate Market for Great Falls, VA 22066
Quarter End 12/31/11
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 Great Falls, VA 22066 by price range for the period from 6/30/11 – 12/31/11.
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 markets can be characterized in one of 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)
| Table 1 | ||||||||||||||
| Market Analysis for 22066 (6/30/11 – 12/31/11) | ||||||||||||||
| Solds + | Expireds + | |||||||||||||
| Contracts | Withdrawns | |||||||||||||
| Zip | Type of | (6/30/11- | Active | (6/30/11- | ||||||||||
| code | List Price Range | Market | 12/31/11) | Listings | Difference | 12/31/11) | ||||||||
| 22066 | $700,000-$899,999 | Sellers’ | 31 | 15 | 16 | or | 51.61% | 18 | ||||||
| 22066 | $900,000-$1,199,999 | Sellers’ | 32 | 12 | 20 | or | 62.50% | 26 | ||||||
| 22066 | $1,200,000-$1,499,999 | Balanced | 20 | 21 | -1 | or | -5.00% | 27 | ||||||
| 22066 | $1,500,000-$1,999,999 | Buyers’ | 17 | 20 | -3 | or | -17.65% | 18 | ||||||
| 22066 | $2,000,000-$2,499,999 | Balanced | 8 | 8 | 0 | or | 0.00% | 6 | ||||||
| 22066 | $2,500,000-$2,999,999 | Buyers’ | 4 | 9 | -5 | or | -125.00% | 2 | ||||||
| 22066 | $3,000,000+ | Strong Buyers’ | 3 | 13 | -10 | or | -333.33% | 9 | ||||||
Summary of 22066
If you have any questions about the McLean-Great Falls real estate market, please don’t hesitate to contact me at TaniaHosmer@gmail.com.
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.
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.
Market Statistics – September 2011 – McLean, VA 22101
| Statistic | Values | YoY | MoM |
|---|---|---|---|
| Total Sold Dollar Volume | $34,333,195 | +83.2% | -29.28% |
| Closed Sales | 34 | +88.89% | -22.73% |
| Median Sold Price | $837,000 | -17.13% | -11.19% |
| Avg Sold Price | $1,009,800 | -3.01% | -8.48% |
| Avg Days on Market | 58 days | +28.89% | -12.12% |
| Avg Sold to Orig List Ratio | 94.2% | +1.68% | -1.16% |
| Inventory | |||
| Sep-11 | Sep-10 | % Change | |
| Active Listings | 187 | 167 | 11.98% |
| New Listings | 77 | 49 | 57.14% |
| New Under Contracts | 7 | 12 | -41.67% |
| New Contingents | 23 | 14 | 64.29% |
| New Pendings | 30 | 26 | 15.38% |
| Total Pendings | 40 | 50 | -20% |
If you have any questions about these statistics, 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.
Click to enlarge the below images for printing or a better view.
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.
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
Please refer to my previous post for the quarter end 3/31/10:
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.
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.
McLean Real Estate News 