McLean December 2020 Home Sales:

• 67 homes went under contract in McLean. This is up 26.4% from the same time period in 2019.

• 36% of the homes went to settlement in December 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $1,257,341 (up 4.3% from the same time period in 2019 when it was $1,205,782).

• 78 homes came on the market. That’s up 16.4% from December of 2019.

• Homes that sold (closed) averaged 43 days on market, 1 day slower than in December of 2019.

• 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 213 McLean homes for sale (townhouse, condo and single-family).

Additional Year End Stats – 2019 vs 2020:

Average sold price increased by 11.2% ($1,111,920 vs $1,236,805)

Total units sold increased by 0.1%

Average sales price to original list price ratio stayed the same – 97%

OVERALL:  McLean remains in a Seller’s Market.  We saw activity in this market slow over the month, expected given the holiday season (although many numbers are still up from this time period last year), and low inventory remained to be an issue in McLean.

The difference in markets based on price is still significant in this area.  There is an 4.8 month supply of homes over $1.5 Million (down from 5.4 months in November) in McLean making that price range more of a Buyer’s Market (properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Seller’s Market).  But, in the under $1.5 Million price range – there is a 1.6 month supply (inventory continues to be low and homes are selling faster in this range).

McLean November 2020 Home Sales:

• 90 homes went under contract in McLean. This is up 27% from the same time period in 2019.

• 43% of the homes went to settlement in November 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $1,538,292 (up 20% from the same time period in 2019 when it was $1,283,398).

• 114 homes came on the market. That’s up 37% from November of 2019.

• Homes that sold (closed) averaged 40 days on market, 12 days faster than in November of 2019.

• There is currently a 3.5 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 268 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remains in a Seller’s Market.  This market continued to be very active with an increase in the number of homes going on the market and going under contract during the month AND year-over-year.  The average sold price also continued to rise.

The difference in markets based on price is still significant in this area.  There is an 5.4 month supply of homes over $1.5 Million (although down from 6.9 months in October) in McLean making that price range more of a Buyer’s Market (properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Seller’s Market).  But, in the under $1.5 Million price range – there is a 1.7 month supply (inventory continues to be low and homes are selling faster in this range).

McLean October 2020 Home Sales:

• 76 homes went under contract in McLean. This is up 23% from the same time period in 2019.

• 55% of the homes went to settlement in October 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $1,259,246 (up 22% from the same time period in 2019 when it was $1,031,475).

• 88 homes came on the market. That’s down 27% from October of 2019.

• Homes that sold (closed) averaged 41 days on market, 4 days slower than in October of 2019.

• There is currently a 3.0 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 221 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remains in a Seller’s Market.  This market experienced a significant decrease in the number of homes coming on the market from last month and year-over-year.  Inventory of homes remains an issue with the number decreasing 27% from last month.

The difference in markets based on price is still significant in this area.  There is an 6.9 month supply of homes over $1.5 Million (although down from 8.2 months in September) in McLean making that price range more of a Buyer’s Market (properties are taking longer to sell and buyers may be able to buy a wonderful home at a lower price than in a Seller’s Market).  But, in the under $1.5 Million price range – there remains a 2.3 month supply (inventory continues to be low and homes are selling faster in this range).

McLean September 2020 Home Sales:

• 76 homes went under contract in McLean. This is down 9.5% from the same time period in 2019.

• 35% of the homes went to settlement in September 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $1,318,517 (up 5% from the same time period in 2019 when it was $1,258,377).

• 180 homes came on the market. That’s up 33% from September of 2019.

• Homes that sold (closed) averaged 51 days on market, 1 day slower than in September of 2019.

• There is currently a 4.1 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 304 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remains in a Seller’s Market.  Although this market saw the number of homes going under contract decrease from the previous month and year-over-year, the average sold price and number of homes coming on the market increased.  Sales prices were up 13% month-over-month and inventory increased by 16%.

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 2.3 month supply (inventory continues to be low and homes are selling faster in this range).

McLean August 2020 Home Sales:

• 94 homes went under contract in McLean. This is up 4.4% from the same time period in 2019.

• 35% of the homes went to settlement in August 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $1,164,243 (up 7% from the same time period in 2019 when it was $1,087,359).

• 128 homes came on the market. That’s up 9.4% from August of 2019.

• Homes that sold (closed) averaged 46 days on market, 3 days slower than in August of 2019.

• There is currently a 3.6 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 262 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remains in a Seller’s Market.  This market slowed down a bit in August and is a bit more in line with the numbers from this time last year.

The difference in markets based on price is still significant in this area.  There is an 8.7 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 2.1 month supply (inventory continues to be low and homes are selling faster in this range).

McLean July 2020 Home Sales:

• 94 homes went under contract in McLean. This is up 25% from the same time period in 2019.

• 34% of the homes went to settlement in July 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $1,094,657 (up 0.1% from the same time period in 2019 when it was $1,093,422).

• 135 homes came on the market. That’s up 28.6% from July of 2019.

• Homes that sold (closed) averaged 40 days on market, 8 days slower than in July of 2019.

• There is currently a 3.7 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 267 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remains in a Seller’s Market.  There was not a big change in activity compared to June but the number of homes that came on the market and went under contract increased significantly from July of 2019. 

The difference in markets based on price is still significant in this area.  There is an 8.8 month supply of homes over $1.5 Million (down again from 10.3 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 2.0 month supply (inventory continues to be low and homes are selling faster in this range).

McLean June 2020 Home Sales:

• 108 homes went under contract in McLean. This is up 20% from the same time period in 2019.

• 35% of the homes went to settlement in June 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $1,129,166 (up 0.8% from the same time period in 2019 when it was $1,120,462).

• 142 homes came on the market. That’s up 4.4% from June of 2019.

• Homes that sold (closed) averaged 37 days on market, 12 days slower than in June of 2019.

• There is currently a 3.6 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 263 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remains in a Seller’s Market.  This market improved in June and is even stronger in regards to the number of homes coming on the market and going under contract than the same time period last year.  Inventory decreased, however, from last month and continues to remain low.

The difference in markets based on price is still significant in this area.  There is an 10.3 month supply of homes over $1.5 Million (down from 11.2 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 1.8 month supply (inventory continues to be low and homes are selling faster in this range).

McLean May 2020 Homes Sales:

• 79 homes went under contract in McLean. This is down 27.5% from the same time period in 2019.

• 44% of the homes went to settlement in May 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $1,180,500 (up 3.7% from the same time period in 2019 when it was $1,137,810).

• 109 homes came on the market. That’s down 40.4% from May of 2019.

• Homes that sold (closed) averaged 31 days on market, 1 day slower than in May of 2019.

• There is currently a 3.8 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 280 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remains in a Seller’s Market.  The number of homes that went under conracct increased from last month but the number of new homes that came on the market decreased.  Compared to this time last year, these numbers were down again significantly…expected given the current Coronavirus environment.  The Average Sold Price was down from last month but is up year-over-year.  Inventory decreased from last month and continues to remain low.

The difference in markets based on price is still significant in this area.  There is an 11.2 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 remains a 2.2 month supply (inventory continues to be low and homes are selling faster in this range).

McLean April 2020 Homes Sales:

• 55 homes went under contract in McLean. This is down 50% from the same time period in 2019.

• 63% of the homes went to settlement in April 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $1,413,479 (up 36.2% from the same time period in 2019 when it was $1,037,909).

• 136 homes came on the market. That’s down 24.4% from April of 2019.

• Homes that sold (closed) averaged 31 days on market, the same as April of 2019.

• 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.  As with last month, the number of homes that went under contract and that came on the market decreased.  And, compared to this time last year, these numbers were down significantly…expected given the current Coronavirus environment.  Also of note, Average Sold Price is up year-over-year and inventory continues to remain low.

The difference in markets based on price is still significant in this area.  There is an 10.4 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 2.2 month supply (inventory continues to be low and homes are selling faster).

McLean March 2020 Home Sales:

• 66 homes went under contract in McLean. This is down 46% from the same time period in 2019.

• 67% of the homes went to settlement in March 2020, sold in 10 days or less from when they hit the market. 

• Average sold price was $1,099,410 (up 13% from the same time period in 2019 when it was $972,674).

• 163 homes came on the market. That’s down 12% from March of 2019.

• Homes that sold (closed) averaged 34 days on market, 7 days faster than in March of 2019.

• There is currently a 3.5 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 277 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remains in a Seller’s Market.  As expected given the current Coronavirus pandemic, the number of homes that went under contract and came on the market were down 46% and 12% respectively from the same time period last year.  The homes that sold in March sold quickly, however the number of homes on the market and months supply both increased from last month.

The difference in markets based on price is still significant in this area.  There is an 10.1 month supply of homes over $1.5 Million in McLean (this is up from a 9.7 months supply in February) 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 2.1 month supply ( up from 1.6 last month but still a Sellers Market - inventory continues to be low and homes are selling faster).

McLean February 2020 Home Sales:

• 73 homes went under contract in McLean. This is up 32.7% from the same time period in 2019. 

• 44% of the homes went to settlement in February 2020, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,358,477 (up 32% from the same time period in 2019 when it was $1,027,898).

• 129 homes came on the market. That’s up 3.2% from February of 2019.

• Homes that sold (closed) averaged 43 days on market, 9 days faster than in February of 2019.

• There is currently a 3.1 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 245 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remains in a Seller’s Market.  In February, the number of homes that came on the market increased, as did the number of homes that went under contract.  The months supply of homes increased slightly from January.

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 (this is up from 8.2 months supply in January) 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 continues to be low and homes are selling faster).

McLean January 2020 Home Sales:

• 67 homes went under contract in McLean. This is up 46% from the same time period in 2019. 

• 29% of the homes went to settlement in January 2020, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,158,816 (up 1.4% from the same time period in 2019 when it was $1,142,945).

• 112 homes came on the market. That’s up 16.7% from January of 2019.

• Homes that sold (closed) averaged 57 days on market, 3 days faster than in January of 2019.

• There is currently a 2.9 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 223 McLean homes for sale (townhouse, condo and single family).

OVERALL:  McLean remains in a Seller’s Market.  January activity picked up from December with the number of homes coming on the market and going under contract increasing (these number were also up from the same time period in 2019).

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 1.3 month supply (a Sellers Market - inventory continues to be low and homes are selling faster).