McLean October 2024 Home Sales:

• 60 homes went under contract in McLean. This is up 43% from the same time period in 2023. 

• 37% of the homes went to settlement in October 2024, sold in 10 days or less from when they hit the market.  

• Average sold price was $2,097,007 (up 47% from the same time period in 2023 when it was $1,431,629).

• 59 homes came on the market. That’s down 30% from October 2023.

• Homes that sold (closed) averaged 35 days on market, 3 days faster than in October 2023.

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

OVERALL:  McLean remained in a Seller’s Market.  We saw a small increase in the number of homes coming on the market in October but the number going under contract decreased.  Overall inventory down from last month, and down 4% year-over-year.  Average sold price increased and was up from this time 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 (more of a Balanced Market - properties are taking a 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  Seller’s Market.

McLean September/Q3 2024 Home Sales:

• 65 homes went under contract in McLean. This is up 1.6% from the same time period in 2023. 

• 44% of the homes went to settlement in September 2024, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,730,693 (up 68% from the same time period in 2023 when it was $1,032,122).

• 56 homes came on the market. That’s down 33% from September 2023.

• Homes that sold (closed) averaged 30 days on market, 13 days slower than in September 2023.

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

Additional 3rd Quarter-End Stats – 2024 vs 2023:

Average sold price increased by 3% ($1,600,581 vs $1,551,827)

Total units sold decreased by 4%

Average sales price to original list price ratio decreased slightly – 98.1% vs 99.2%

OVERALL:  McLean remained in a Seller’s Market.  We again saw a decrease in the number of homes coming on the market in September but the number going under contract increased.  Overall inventory up from last month, and up 15% year-over-year.  Average sold price increased and was up from this time last year. 

There is still a difference when we segment this market out by price.  There is a 3.5 month supply of homes over $1.5 Million in McLean (more of a Balanced Market - properties are taking a longer to sell) and in the under $1.5 Million price range – there is a 1.3 month supply, therefore this segment is seeing a  Seller’s Market.

McLean August 2024 Home Sales:

• 61 homes went under contract in McLean. This is down 3% from the same time period in 2023. 

• 45% of the homes went to settlement in August 2024, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,612,686 (down 7% from the same time period in 2023 when it was $1,738,120).

• 78 homes came on the market. That’s down 4% from August 2023.

• Homes that sold (closed) averaged 31 days on market, 22 days faster than in August 2023.

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

OVERALL:  McLean remained in a Seller’s Market.  We again saw a decrease in the number of homes coming on the market and going under contract in August.  Overall inventory decreased just slightly from last month, but was up 33% year-over-year.  Average sold price increased but was down from this time last year. 

There is still a difference when we segment this market out by price.  There is a 3.6 month supply of homes over $1.5 Million in McLean (very much a Balanced Market - properties are taking a longer to sell) and in the under $1.5 Million price range – there is a 1.4 month supply, therefore this segment is seeing a  Seller’s Market.

McLean July 2024 Home Sales:

• 67 homes went under contract in McLean. This is up 3% from the same time period in 2023. 

• 37% of the homes went to settlement in July 2024, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,492,863 (down 12% from the same time period in 2023 when it was $1,689,499).

• 85 homes came on the market. That’s equal to July 2023.

• Homes that sold (closed) averaged 26 days on market, 6 days faster than in July 2023.

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

OVERALL:  McLean remained in a Seller’s Market.  We again saw a decrease in the number of homes coming on the market and going under contract in July.  Overall inventory was unchanged from last month, but was up 28% year-over-year.  Average sold price decreased and was also down from this time 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 (very much a Balanced Market - properties are taking a longer to sell) and in the under $1.5 Million price range – there is a 1.4 month supply, therefore this segment is seeing a  Seller’s Market.

McLean June/Q2 2024 Home Sales:

• 79 homes went under contract in McLean. This is up 10% from the same time period in 2023. 

• 53% of the homes went to settlement in June 2024, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,759,948 (up 13% from the same time period in 2023 when it was $1,553,029).

• 79 homes came on the market. That’s down 14% from June 2023.

• Homes that sold (closed) averaged 31 days on market, 6 days slower than in June 2023.

• There is currently a 3.2 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 199 McLean homes for sale (townhouse, condo and single-family).

Additional 2nd Quarter-End Stats – 2024 vs 2023:

Average sold price increased by 13% ($1,678,965 vs $1,489,380)

Total units sold increased by 4%

Average sales price to original list price ratio increased slightly – 100.5% vs 100.0%

OVERALL:  McLean remained in a Seller’s Market.  We again saw a decrease in the number of homes coming on the market and going under contract in June.  Overall inventory was also down from last month, but was up 21% year-over-year.  Average sold price increased and was up from this time 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 (very much a Balanced Market - properties are taking a longer to sell) and in the under $1.5 Million price range – there is a 1.3 month supply, therefore this segment is seeing a  Seller’s Market.

McLean May 2024 Home Sales:

• 83 homes went under contract in McLean. This is equal to the same time period in 2023. 

• 60% of the homes went to settlement in May 2024, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,569,231 (up 7% from the same time period in 2023 when it was $1,469,669).

• 113 homes came on the market. That’s up 20% from May 2023.

• Homes that sold (closed) averaged 35 days on market, 13 days slower than in May 2023.

• There is currently a 3.2 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 207 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remained in a Seller’s Market.  We again saw a decrease in the number of homes coming on the market and going under contract in May.  Overall inventory was up slightly from last month, and was up 23% year-over-year.  Average sold price decreased but was up from this time last year. 

There is still a difference when we segment this market out by price.  There is a 5.4 month supply of homes over $1.5 Million in McLean (very much a Balanced Market - properties are taking a longer to sell) and in the under $1.5 Million price range – there is a 1.6 month supply, therefore this segment is seeing a  Seller’s Market.

McLean April 2024 Home Sales:

• 94 homes went under contract in McLean. This is up 16% from the same time period in 2023. 

• 70% of the homes went to settlement in April 2024, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,722,296 (up 20% from the same time period in 2023 when it was $1,439,084).

• 123 homes came on the market. That’s up 34% from April 2023.

• Homes that sold (closed) averaged 26 days on market, 2 days faster than in April 2023.

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

OVERALL:  McLean remained in a Seller’s Market.  We again saw an increase in the number of homes coming on the market and going under contract in April.  Overall inventory was also up from last month, and was up 18% year-over-year.  Average sold price increased and was up from this time last year. 

There is still a difference when we segment this market out by price.  There is a 6.8 month supply of homes over $1.5 Million in McLean (very much a Balanced Market - properties are taking a longer to sell) and in the under $1.5 Million price range – there is a 1.8 month supply, therefore this segment is seeing a  Seller’s Market.

McLean March/Q1 2024 Home Sales:

• 90 homes went under contract in McLean. This is up 15% from the same time period in 2023. 

• 52% of the homes went to settlement in March 2024, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,507,757 (down 1% from the same time period in 2023 when it was $1,522,587).

• 87 homes came on the market. That’s down 27% from March 2023.

• Homes that sold (closed) averaged 44 days on market, 12 days slower than in March 2023.

• There is currently a 2.6 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 164 McLean homes for sale (townhouse, condo and single-family).

Additional 1st Quarter-End Stats – 2024 vs 2023:

Average sold price increased by 8.5% ($1,567,936 vs $1,445,421)

Total units sold decreased by 3%

Average sales price to original list price ratio was unchanged – 98.7% vs 98.7%

OVERALL:  McLean remained in a Seller’s Market.  We saw an increase in the number of homes coming on the market and going under contract in March.  Overall inventory was down a bit from last month, as well as down 2% year-over-year.  Average sold price was down from February as well as from this time last year.

There is still a difference when we segment this market out by price.  There is a 7.0 month supply of homes over $1.5 Million in McLean (very much a Balanced Market - properties are taking a longer to sell) and in the under $1.5 Million price range – there is a 1.6 month supply, therefore this segment is seeing a  Seller’s Market.

McLean February 2024 Home Sales:

• 65 homes went under contract in McLean. This is down 4% from the same time period in 2023. 

• 38% of the homes went to settlement in February 2024, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,739,184 (up 45% from the same time period in 2023 when it was $1,203,490).

• 84 homes came on the market. That’s unchanged from February 2023.

• Homes that sold (closed) averaged 40 days on market, 14 days faster than in February 2023.

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

OVERALL:  McLean remained in a Seller’s Market.  We saw an increase in the number of homes coming on the market and going under contract in February.  Overall inventory was up from last month, as well as up 16% year-over-year.  Average sold price was up from January as well as from this time last year.

There is still a difference when we segment this market out by price.  There is a 7.0 month supply of homes over $1.5 Million in McLean (a Balanced Market - properties are taking a longer to sell) and in the under $1.5 Million price range – there is a 1.3 month supply, therefore this segment is seeing a  Seller’s Market.

McLean January 2024 Home Sales:

• 45 homes went under contract in McLean. This is down 4% from the same time period in 2023. 

• 52% of the homes went to settlement in January 2024, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,512,483 (down 7% from the same time period in 2023 when it was $1,635,263).

• 61 homes came on the market. That’s down 22% from January 2023.

• Homes that sold (closed) averaged 43 days on market, 9 days faster than in January 2023.

• There is currently a 2.4 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 153 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remained in a Seller’s Market.   2024 started with an increase in the number of homes coming on the market and going under contract compared to year-end 2023 (but both remain down in comparison to the beginning of 2023).  Overall inventory was unchanged from last month and was down 17% year-over-year.  Average sold price was up from December but remains down year-over-year.

There is still a difference when we segment this market out by price.  There is a 6.1 month supply of homes over $1.5 Million in McLean (more of a Balanced Market - properties are taking a 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.

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