McLean December 2019 Home Sales:
• 53 homes went under contract in McLean. This is down 18.5% from the same time period in 2018.
• 38% of the homes went to settlement in December 2019, sold in 10 days or less from when they hit the market.
• Average sold price was $1,205,782 (up 8% from the same time period in 2018 when it was $1,115,039).
• 67 homes came on the market. That’s up 52% from December 2018.
• Homes that sold (closed) averaged 42 days on market, 22 days faster thanin December of 2018.
• There is currently a 2.8 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 216 McLean homes for sale (townhouse, condo and single family).
Additional Year-End Stats – 2018 vs 2019:
Average sold price decreased by 5% ($1,169,472 vs $1,111,920)
Total units sold increased by 4.5%
Average sales price to original list price ratio basically remained the same – 97%
OVERALL: McLean remains in a Seller’s Market. December slowed a bit (which is not unexpected during the holiday season) as the number of homes that went under contract decreased to 25% and the number of homes that came on the market decreased by 19%.
The difference in markets based on price is still significant in this area. There is an 8.2 month supply of homes over $1.5 Million in McLean making that price range definitely a Buyers Market (properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Sellers Market). But, in the under $1.5 Million price range – there is a 1.2 month supply (a Sellers Market - inventory continues to be low and homes are selling faster).
Your Home Value
McLean November 2019 Home Sales:
• 71 homes went under contract in McLean. This is up 6% from the same time period in 2018.
• 19% of the homes went to settlement in November 2019, sold in 10 days or less from when they hit the market.
• Average sold price was $1,283,398 (up 29.3% from the same time period in 2018 when it was $992,690).
• 83 homes came on the market. That’s up 9.2% from November 2018.
• Homes that sold (closed) averaged 52 days on market, 4 days faster than in November of 2018.
• There is currently a 3.3 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 255 McLean homes for sale (townhouse, condo and single family).
OVERALL: McLean remains in a Seller’s Market and the number of homes that came on the market dropped by 31% from last month.
The difference in markets based on price is still significant in this area. There is a 8.1 month supply of homes over $1.5 Million in McLean making that price range definitely a Buyers Market (properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Sellers Market). But, in the under $1.5 Million price range – there is a 1.5 month supply (a Sellers Market - inventory continues to be low and homes are selling faster).
McLean October 2019 Home Sales:
• 62 homes went under contract in McLean. This is down 6.1% from the same time period in 2018.
• 36% of the homes went to settlement in October 2019, sold in 10 days or less from when they hit the market.
• Average sold price was $1,031,475 (down 10% from the same time period in 2018 when it was $1,154,291).
• 120 homes came on the market. That’s down 3.2% from October 2018.
• Homes that sold (closed) averaged 37 days on market, 22 days faster than in October of 2018.
• There is currently a 3.9 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 301 McLean homes for sale (townhouse, condo and single family).
OVERALL: McLean remains in a Seller’s Market. Some things to note…fewer homes came on the market in October and went under contract from September, but those selling are selling faster. The average sold price was also down from last month and this same time period in 2018.
The difference in markets based on price is still significant in this area. There is a 8.5 month supply of homes over $1.5 Million (down from 9.7 last month!) in McLean making that price range definitely a Buyers Market (properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Sellers Market). But, in the under $1.5 Million price range – there is a continues to be a 1.8 month supply (a Sellers Market - inventory is low and homes are selling faster).
McLean September 2019 Home Sales:
• 84 homes went under contract in McLean. This is up 21.7% from the same time period in 2018.
• 37% of the homes went to settlement in September 2019, sold in 10 days or less from when they hit the market.
• Average sold price was $1,258,377 (up 38.9% from the same time period in 2018 when it was $906,160)
• 135 homes came on the market. That’s down 2.9% from September 2018.
• Homes that sold (closed) averaged 50 days on market, 24 days faster than in September of 2018.
• There is currently a 4 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 284 McLean homes for sale (townhouse, condo and single family).
OVERALL: McLean remains in a Seller’s Market. Some things to note…the number of homes under contract increased from this time last year, the average sold price increased from last month and significantly from September of 2018, and the average days on market decreased from last month and this time last year by 24% and 39% respectively.
The difference in markets based on price is still significant in this area. There is a 9.7 month supply of homes over $1.5 Million in McLean making that price range definitely a Buyers Market (properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Sellers Market). But, in the under $1.5 Million price range – there is a continues to be a 1.6 month supply (a Sellers Market - inventory is low and homes are selling faster).
McLean August 2019 Home Sales:
• 90 homes went under contract in McLean. This is up 45.2% from the same time period in 2018.
• 29% of the homes went to settlement in August 2019, sold in 10 days or less from when they hit the market.
• Average sold price was $1,087,359 (up 4.7% from the same time period in 2018 when it was $1,038,721)
• 117 homes came on the market. That’s up 10.4% from August 2018.
• Homes that sold (closed) averaged 64 days on market, 3 days faster than in August of 2018.
• There is currently a 3.9 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 272 McLean homes for sale (townhouse, condo and single family).
OVERALL: McLean remains in a Seller’s Market. Other than the increase in number of homes that went under contract vs this time last year, there were no significant changes in statistics this month.
The difference in markets based on price is still significant in this area. There is a 9.2 month supply of homes over $1.5 Million in McLean making that price range definitely a Buyers Market (properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Sellers Market). But, in the under $1.5 Million price range – there is a 1.6 month supply (a Sellers Market - inventory is low and homes are selling faster).
McLean July 2019 Home Sales:
• 75 homes went under contract in McLean. This is up 1.35% from the same time period in 2018.
• 26% of the homes went to settlement in July 2019, sold in 10 days or less from when they hit the market.
• Average sold price was $1,093,422 (down 22.3%from the same time period in 2018 when it was $1,407,805)
• 105 homes came on the market. That’s down 17.3% from July 2018.
• Homes that sold (closed) averaged 52 days on market, equal to that in July of 2018.
• There is currently a 4.3 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 299 McLean homes for sale (townhouse, condo and single family).
OVERALL: McLean remains in a Seller’s Market. The average sold price decreased significantly from this time last year. The number of homes new to the market is down again from last month, as well as from the same time period last year.
The difference in markets based on price is still significant in this area. There is a 10 month supply of homes over $1.5 Million (although down from 11.4 last month) in McLean making that price range definitely a Buyers Market (properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Sellers Market). But, in the under $1.5 Million price range – there is a 1.9 month supply (a Sellers Market - inventory is low and homes are selling faster).
McLean June 2019 Home Sales:
• 90 homes went under contract in McLean. This is down 7.22% from the same time period in 2018.
• 34% of the homes went to settlement in June 2019, sold in 10 days or less from when they hit the market.
• Average sold price was $1,120,462 (up from the same time period in 2018 when it was $1,013,892)
• 136 homes came on the market. That’s down 18.56% from June 2018.
• Homes that sold (closed) averaged 47 days on market, 15 days faster than in June of 2018.
• There is currently a 4.8 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 328 McLean homes for sale (townhouse, condo and single family).
OVERALL: McLean remains in a Seller’s Market. The number of homes new to the market is down from last month, as well as from the same time period last year.
The difference in markets based on price is still significant in this area. There is a 11.4 month supply of homes over $1.5 Million (similar to last month) in McLean making that price range definitely a Buyers Market (properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Sellers Market). But, in the under $1.5 Million price range – there is a 2.3 month supply (a Sellers Market - inventory is low and homes are selling faster).
McLean May 2019 Home Sales:
• 109 homes went under contract in McLean. This is down 2.68% from the same time period in 2018.
• 37% of the homes went to settlement in May 2019, sold in 10 days or less from when they hit the market.
• Average sold price was $1,137,810 (down from the same time period in 2018 when it was $1,280,360)
• 183 homes came on the market. That’s up 8.28% from May 2018.
• Homes that sold (closed) averaged 45 days on market, 11 days faster than in May of 2018.
• There is currently a 4.5 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 318 McLean homes for sale (townhouse, condo and single family).
OVERALL: McLean remains in a Seller’s Market. Two notable changes from last month were the increase in average sold price ($1,037,909 in April) and the decrease in the number of new listings that came on the market (down 39%).
And…the difference in markets based on price is still significant in this area. There is a 12 month supply of homes over $1.5 Million (similar to last month) in McLean making that price range definitely a Buyers Market (properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Sellers Market). But, in the under $1.5 Million price range – there remains a 2.4 month supply (a Sellers Market - inventory is low and homes are selling faster).
McLean April 2019 Home Sales:
• 110 homes went under contract in McLean. This is up 17.39% from the same time period in 2018.
• 38% of the homes went to settlement in April 2019, sold in 10 days or less from when they hit the market.
• Average sold price was $1,037,909 (down slightly from the same time period in 2018 when it was $1,042,763)
• 300 homes came on the market. That’s only down .99% from April 2018.
• Homes that sold (closed) averaged 43 days on market, 12 days faster than in April of 2018!
• There is currently a 4.3 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 300 McLean homes for sale (townhouse, condo and single family).
OVERALL: McLean remains in a Seller’s Market. But…the difference in markets based on price is still significant in this area. There is a 13 month supply of homes over $1.5 Million (relatively unchanged from last month) in McLean making that price range definitely a Buyers Market (properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Sellers Market). But, in the under $1.5 Million price range – there is a 2.4 month supply (a Sellers Market - inventory is low and homes are selling faster).
McLean March 2019 Home Sales:
• 122 homes went under contract in McLean. This is up 17% from the same time period in 2018.
• 30% of the homes went to settlement in March 2019, sold in 10 days or less from when they hit the market.
• Average sold price was $972,674 (down slightly from last month but up 3.2% from the same time period in 2018 when it was $942,288)
• 185 homes came on the market. That’s up 22.5% from March 2018!
• Homes that sold (closed) averaged 54 days on market, 32 days faster than in March of 2018!
• There is currently a 3.9 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 269 McLean homes for sale (townhouse, condo and single family).
OVERALL: McLean remains in a Seller’s Market.
However, the difference in markets based on price is still significant in this area. There is a 12.6 month supply of homes over $1.5 Million (relatively unchanged from last month) in McLean making that price range definitely a Buyers Market (properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Sellers Market). But, in the under $1.5 Million price range – there continues to be a 2.6 month supply (a Sellers Market - inventory is low and homes are selling more quickly).
