McLean July 2021 Home Sales:
• 90 homes went under contract in McLean. This is down 4% from the same time period in 2020.
• 53% of the homes went to settlement in July 2021, sold in 10 days or less from when they hit the market.
• Average sold price was $1,320,661 (up 21% from the same time period in 2020 when it was $1,094,657).
• 114 homes came on the market. That’s down 16% from July 2020.
• Homes that sold (closed) averaged 30 days on market, 10 days faster than in July of 2020.
• There is currently a 2.3 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 219 McLean homes for sale (townhouse, condo and single-family).
OVERALL: McLean remained in a Seller’s Market. We saw a slowing of the market in this area during July as well as year-over-year. That said, the average sold price continued to increase from the same time period last year.
The difference in markets based on price is still significant in this area. There is a 3.5 month supply of homes over $1.5 Million 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 1.5 month supply (homes are selling faster in this price range).
Your Home ValueMcLean June 2021 Home Sales:
• 119 homes went under contract in McLean. This is up 10% from the same time period in 2020.
• 53% of the homes went to settlement in June 2021, sold in 10 days or less from when they hit the market.
• Average sold price was $1,401,086 (up 24% from the same time period in 2020 when it was $1,129,166).
• 166 homes came on the market. That’s up 17% from June 2020.
• Homes that sold (closed) averaged 29 days on market, 8 days faster than in June of 2020.
• 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 258 McLean homes for sale (townhouse, condo and single-family).
OVERALL: McLean remained in a Seller’s Market. As with last month, we didn’t see a significant change in the monthly numbers from May to June, and while most of the numbers are up from June of 2020, the percentage increases were smaller from the year-over-year changes we saw in May.
The difference in markets based on price is still significant in this area. There is a 3.8 month supply of homes over $1.5 Million 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 1.9 month supply (homes are selling faster in this price range).
McLean May 2021 Home Sales:
• 105 homes went under contract in McLean. This is up 33% from the same time period in 2020.
• 67% of the homes went to settlement in May 2021, sold in 10 days or less from when they hit the market.
• Average sold price was $1,490,262 (up 26% from the same time period in 2020 when it was $1,180,500).
• 177 homes came on the market. That’s up 62% from May 2020.
• Homes that sold (closed) averaged 28 days on market, 3 days faster than in May of 2020.
• 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 261 McLean homes for sale (townhouse, condo and single-family).
OVERALL: McLean remained in a Seller’s Market. We didn’t see a significant change in the numbers from April to May in McLean, but activity and average sold price were up double digits compared to this time last year (again, expected due to the pandemic). Inventory increased slightly in May but continued to be an issue for buyers.
The difference in markets based on price is still significant in this area. There is a 4.6 month supply of homes over $1.5 Million 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 2.3 month supply (homes are selling faster in this price range).
McLean April 2021 Home Sales:
• 115 homes went under contract in McLean. This is up 109% from the same time period in 2020!
• 47% of the homes went to settlement in April 2021, sold in 10 days or less from when they hit the market.
• Average sold price was $1,280,173 (down 9% from the same time period in 2020 when it was $1,413,479).
• 189 homes came on the market. That’s up 39% from April 2020.
• Homes that sold (closed) averaged 38 days on market, 7 days slower than in April of 2020.
• 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 236 McLean homes for sale (townhouse, condo and single-family).
OVERALL: McLean remained in a Seller’s Market. The number of homes that came on the market and went under contract were up significantly year-over-year (not surprising given the pandemic situation) however, the number of homes that went under contract decreased from March. The average sold price increased slightly from March but is down year-over-year. Lack of inventory is not as significant in McLean as it is in some other hyper local areas.
The difference in markets based on price is still significant in this area. There is a 4.7 month supply of homes over $1.5 Million 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 2.0 month supply (homes are selling faster in this price range).
McLean March 2021 Home Sales:
• 137 homes went under contract in McLean. This is up 108% from the same time period in 2020!
• 45% of the homes went to settlement in March 2021, sold in 10 days or less from when they hit the market.
• Average sold price was $1,214,421 (up 11% from the same time period in 2020 when it was $1,099,410).
• 156 homes came on the market. That’s down 4% from March 2020.
• Homes that sold (closed) averaged 37 days on market, 3 days slower than in March of 2020.
• There is currently a 2.5 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 202 McLean homes for sale (townhouse, condo and single-family).
OVERALL: McLean remained in a Seller’s Market. The number of homes that came on the market was up from February (but down year-over-year), however, inventory was down slightly and remained a challenge for buyers in some segments. The average sales price continued to increase (up 11% year-over-year!).
The difference in markets based on price is still significant in this area. There is a 4.8 month supply of homes over $1.5 Million (up from 4.4 months in February) 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 February 2021 Home Sales:
• 90 homes went under contract in McLean. This is up
23% from the same time period in 2020.
• 38% of the homes went to settlement in February 2021, sold
in 10 days or less from when they hit the market.
• Average sold price was $1,312,220 (down 3% from the same time period in 2020 when it was $1,358,477).
• 130 homes came on the market. That’s up 0.8% from February 2020.
• Homes that sold (closed) averaged 51 days on market, 8 days slower than in February of 2020.
• 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 224 McLean homes for sale (townhouse, condo and single-family).
OVERALL: McLean remains in a Seller’s Market. Market activity in the area was up from January as well as year-over-year. Average sold prices were down from last year and low inventory remains to be an issue especially in the under $1.5 Million price range.
The difference in markets based on price is still significant in this area. There is a 4.4 month supply of homes over $1.5 Million (down from 5.0 months in January) 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 1.8 month supply (inventory continues to be low and homes are selling faster in this range).
McLean January 2021 Home Sales:
• 64 homes went under contract in McLean. This is down 4%% from the same time period in 2020.
• 37% of the homes went to settlement in January 2021, sold in 10 days or less from when they hit the market.
• Average sold price was $1,280,369 (up 10% from the same time period in 2020 when it was $1,158,816).
• 108 homes came on the market. That’s down 4% from January 2020.
• Homes that sold (closed) averaged 33 days on market, 24 days faster than in January of 2020.
• There is currently a 2.7 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 211 McLean homes for sale (townhouse, condo and single-family).
OVERALL:
McLean remains in a Seller’s Market. More
home came on the market in this area compared to December but activity was down
year-over-year. Average sold price was
up from last year and month supply of homes remained steady.
The difference in markets based on price is still significant in this area. There is a 5.0 month supply of homes over $1.5 Million (up from 4.8 months in December) 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 1.8 month supply (inventory continues to be low and homes are selling faster in this range).
