McLean December 2022 Home Sales:

• 29 homes went under contract in McLean. This is down 42% from the same time period in 2021. 

• 32% of the homes went to settlement in December 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,405,782 (down 14% from the same time period in 2021 when it was $1,641,311).

• 26 homes came on the market. That’s down 64% from December 2021.

• Homes that sold (closed) averaged 29 days on market, 23 days faster than in December of 2021.

• There is currently a 1.9 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 132 McLean homes for sale (townhouse, condo and single-family).

Additional Year-End Stats – 2022 vs 2021:

Average sold price increased by 10% ($1,532,136 vs $1,389,019)

Total units sold decreased by 25%

Average sales price to original list price ratio increased slightly – 99.6% vs 98.7%

OVERALL:  McLean remained in a Seller’s Market.   Inventory decreased from the prior month and was down 3% year-over-year.  The number of homes going under contract and coming on the market declined, and both of these numbers continue to be down significantly from this time last year.  Average sold price was down slightly from November and compared to the end of December last year.

There is still a difference when we segment this market out by price.  There is a 4.6 month supply of homes over $1.5 Million in McLean (properties are taking a bit longer to sell) and in the under $1.5 Million price range – there is a 1.5 month supply, therefore this segment is seeing more of a  Seller’s Market.

McLean November 2022 Home Sales:

• 43 homes went under contract in McLean. This is down 39% from the same time period in 2021. 

• 51% of the homes went to settlement in November 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,492,333 (down 0.7% from the same time period in 2021 when it was $1,503,357).

• 61 homes came on the market. That’s down 18% from November 2021.

• Homes that sold (closed) averaged 20 days on market, 20 days faster than in November of 2021.

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

OVERALL:  McLean remained in a Seller’s Market.   Inventory decreased from the prior month and was down 2.3% year-over-year.  The number of homes going under contract and coming on the market declined, and both of these numbers continue to be down from this time last year.  Average sold price was down from October and compared to November last year.

There is still a difference when we segment this market out by price.  There is a 4.1 month supply of homes over $1.5 Million in McLean (properties are taking a bit longer to sell) and in the under $1.5 Million price range – there is a 1.5 month supply, therefore this segment is seeing more of a  Seller’s Market.

McLean October 2022 Home Sales:

• 46 homes went under contract in McLean. This is down 51% from the same time period in 2021. 

• 46% of the homes went to settlement in October 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,555,864 (up 4.7% from the same time period in 2021 when it was $1,485,876).

• 91 homes came on the market. That’s down 9% from October 2021.

• Homes that sold (closed) averaged 30 days on market, 1 day faster than in October of 2021.

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

OVERALL:  McLean remained in a Seller’s Market.   Inventory increased slightly from the prior month but was down 9% year-over-year.  The number of homes going under contract and coming on the market declined, and both of these numbers continue to be down significantly from this time last year.  Average sold price was up from September and compared to October last year.

There is still a difference when we segment this market out by price.  There is a 4.3 month supply of homes over $1.5 Million in McLean (properties are taking a bit longer to sell) and in the under $1.5 Million price range – there is a 1.6 month supply, therefore this segment is seeing more of a  Seller’s Market.

McLean September 2022 Home Sales:

• 50 homes went under contract in McLean. This is down 43% from the same time period in 2021. 

• 42% of the homes went to settlement in September 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,210,108 (down 15% from the same time period in 2021 when it was $1,420,034).

• 114 homes came on the market. That’s down 15% from September 2021.

• Homes that sold (closed) averaged 29 days on market, 14 days faster than in September of 2021.

• There is currently a 2.2 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 181 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remained in a Seller’s Market.   Inventory increased from the prior month but was down 26% year-over-year.  The number of homes going under contract decreased but the number of new homes coming on the market increased…however both of these numbers continue to be down significantly from this time last year.  Average sold price was down from August as well as compared to September last year.

There is still a difference when we segment this market out by price.  There is a 3.7 month supply of homes over $1.5 Million in McLean (properties are taking a bit longer to sell) and in the under $1.5 Million price range – there is a 1.3 month supply, therefore this segment is seeing more of a  Seller’s Market.

Additional Quarter-End Stats – 2022 vs 2021

Average sold price increased by 6.2% ($1,447,940 vs $1,362,922)

Total units sold decreased by 29%

Average sales price to original list price ratio decreased – 97.8% vs 99.2%

McLean August 2022 Home Sales:

• 62 homes went under contract in McLean. This is down 25% from the same time period in 2021. 

• 35% of the homes went to settlement in August 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,347,292 (down 0.45% from the same time period in 2021 when it was $1,353,440).

• 74 homes came on the market. That’s down 45% from August 2021.

• Homes that sold (closed) averaged 39 days on market, 1 day faster than in August of 2021.

• There is currently a 2.0 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 166 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remained in a Seller’s Market.   Inventory decreased from the prior month and was down 30% year-over-year.  The number of homes coming on the market decreased as well…and this, along with the number of homes going under contract, continue to be down significantly from this time last year.  Average sold price was down from July but was basically the same as in August of last year.

There is still a difference when we segment this market out by price.  There is a 3.3 month supply of homes over $1.5 Million in McLean (properties are taking a bit longer to sell) and in the under $1.5 Million price range – there is a 1.3 month supply, therefore this segment is seeing more of a  Seller’s Market.

McLean July 2022 Home Sales:

• 58 homes went under contract in McLean. This is down 35% from the same time period in 2021. 

• 56% of the homes went to settlement in July 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,630,173 (up 23% from the same time period in 2021 when it was $1,320,661).

• 99 homes came on the market. That’s down 13% from July 2021.

• Homes that sold (closed) averaged 24 days on market, 6 days faster than in July of 2021.

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

OVERALL:  McLean remained in a Seller’s Market.   Inventory decreased just slightly from last month and was down 8% year-over-year.  The number of homes going under contract and new homes coming on the market decreased…and both of these numbers continue to be down from this time last year.  Average sold price was up from June as well as compared to July last year.

There is still a difference when we segment this market out by price.  There is a 3.3 month supply of homes over $1.5 Million in McLean (properties are taking a bit longer to sell) and in the under $1.5 Million price range – there is a 1.5 month supply, therefore this segment is seeing more of a  Seller’s Market.

McLean June 2022 Home Sales:

• 88 homes went under contract in McLean. This is down 26% from the same time period in 2021. 

• 58% of the homes went to settlement in June 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,585,257 (up 13% from the same time period in 2021 when it was $1,401,086).

• 139 homes came on the market. That’s down 16% from June 2021.

• Homes that sold (closed) averaged 22 days on market, 7 days faster than in June of 2021.

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

OVERALL:  McLean remained in a Seller’s Market.   Inventory increased again from last month but was down 19% year-over-year.  The number of homes going under contract and the number of new homes coming on the market were in line with May, however both of these numbers continue to be down from this time last year.  Average sold price was up from May as well as compared to this month & quarter in 2021. 

There is still a difference when we segment this market out by price.  There is a 3.4 month supply of homes over $1.5 Million in McLean (properties are taking a bit longer to sell) and in the under $1.5 Million price range – there is a 1.8 month supply, therefore this segment is seeing more of a  Seller’s Market.

Additional Quarter-End Stats – 2021 vs 2022:

Average sold price increased by 2% ($1,398,100 vs $1,427,858)

Total units sold decreased by 18%

Average sales price to original list price ratio increased – 99.3% vs 102.3%

McLean May 2022 Home Sales:

• 83 homes went under contract in McLean. This is down 21% from the same time period in 2021. 

• 66% of the homes went to settlement in May 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,372,970 (down 8% from the same time period in 2021 when it was $1,490,262).

• 136 homes came on the market. That’s down 23% from May 2021.

• Homes that sold (closed) averaged 18 days on market, 10 days faster than in May of 2021.

• There is currently a 2.1 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 195 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remained in a Seller’s Market.   Inventory increased from last month but was down 25% year-over-year.  The number of homes going under contract was down from last month as was the number of new homes coming on the market…both of these numbers continue to be down significantly from this time last year.  Average sold price was in line with April, but was down from this same time last year. 

There is still a difference when we segment this market out by price.  There is a 3.3 month supply of homes over $1.5 Million in McLean (properties are taking a bit longer to sell) and in the under $1.5 Million price range – there is a 1.9 month supply, therefore this segment is seeing more of a  Seller’s Market.

McLean April 2022 Home Sales:

• 100 homes went under contract in McLean. This is down 13% from the same time period in 2021. 

• 59% of the homes went to settlement in April 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,318,780 (up 3% from the same time period in 2021 when it was $1,280,173).

• 162 homes came on the market. That’s down 14% from April 2021.

• Homes that sold (closed) averaged 30 days on market, 8 days faster than in April of 2021.

• There is currently a 1.9 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 177 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remained in a Seller’s Market.   Active listings increased from the prior month but were down 25% year-over-year.  Average sold price was down 23% from March but up 3% from April 2021. 

There is still a difference when we segment this market out by price.  There is a 3.4 month supply of homes over $1.5 Million in McLean (properties are taking a bit longer to sell) and in the under $1.5 Million price range – there is a 1.6 month supply, therefore this segment is seeing more of a  Seller’s Market.

McLean March 2022 Home Sales:

• 107 homes went under contract in McLean. This is down 22% from the same time period in 2021. 

• 56% of the homes went to settlement in March 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,665,510 (up 37% from the same time period in 2021 when it was $1,214,421).

• 136 homes came on the market. That’s down 13% from March 2021.

• Homes that sold (closed) averaged 39 days on market, 2 days slower than in March of 2021.

• There is currently a 1.5 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 140 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remained in a Seller’s Market.   Inventory increased just 6% from last month (but continues to be historically low) and sold prices continued to rise. 

There is still a difference when we segment this market out by price.  There is a 2.6 month supply of homes over $1.5 Million in McLean (properties are taking a bit longer to sell) and in the under $1.5 Million price range – there is a 1.4 month supply, therefore this segment is seeing more of a  Seller’s Market.

McLean February 2022 Home Sales:

• 88 homes went under contract in McLean. This is down 2% from the same time period in 2021. 

• 36% of the homes went to settlement in February 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,575,746 (up 20% from the same time period in 2021 when it was $1,312,220).

• 115 homes came on the market. That’s down 12% from February 2021.

• Homes that sold (closed) averaged 54 days on market, 3 days slower than in February of 2021.

• There is currently a 1.4 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 132 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remained in a Seller’s Market.   Not much change from the previous month.  Inventory remained low and average price is still up year-over-year.

There is still a difference when we segment this market out by price.  There is a 2.7 month supply of homes over $1.5 Million in McLean (properties are taking a bit longer to sell) and in the under $1.5 Million price range – there is a 1.2 month supply, therefore this segment is seeing a more aggressive Seller’s Market.

McLean January 2022 Home Sales:

• 63 homes went under contract in McLean. This is down 2% from the same time period in 2021. 

• 26% of the homes went to settlement in January 2022, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,857,498 (up 45% from the same time period in 2021 when it was $1,280,369).

• 83 homes came on the market. That’s down 23% from January 2021.

• Homes that sold (closed) averaged 76 days on market, 43 days slower than in January of 2021.

• There is currently a 1.3 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 123 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remained in a Seller’s Market.   Lots more of the same from 2021…very LOW inventory in the area remained an issue and average home prices continued to rise.

There is still a difference when we segment this market out by price.  There is a 2.4 month supply of homes over $1.5 Million in McLean (properties are taking a bit longer to sell) and in the under $1.5 Million price range – there is a 1.2 month supply, therefore this segment is seeing a more aggressive Seller’s Market.

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