With all you read about the housing market, buying a McLean home appears to be a roll of the dice right now. I just looked over resale data from MRIS of the McLean zip code ( 22101) for the month of April and noticed a big drop in the number of units sold.
- Total Units Sold in April 2009, 28 vs. 34 in 2008 (down 17.65%)
- Average Sold Price in April 2009, $861,659 vs. $1,113,396 in 2008 (down 22.61%)
- In the $700,000 to $799,999 range, 5 sold of 28 active listings
- In the $800,000 to $899,999 range, 0 sold of 26 active listings
- In the $900,000 to $999,999 range, 3 sold of 13 active listings
- In the $1,000,000 to $2,499,999, 8 sold of 131 active listings
- Average days on market in April 2009 is 150 vs. 148 in 2008
- The average sold price in 2009 was 91.04% of average list price
So this market remains highly competitive as we head further into the “Spring Market” with home sellers waiting anxiously for buyers to make offers. And with such a large inventory for sale in the 22101 averageÂ price range, the home buyers remain in control of the housing market.