McLean VA Home Sales Stats | Hyper Local January 2010

Image by DougFrancis via Flickr

The national home sale data that has come out recently, like the Case-Shiller Home Price Indices, and local data have been all over the place giving a confusing picture of the local real estate market. Here, I am going to look at the McLean, Virginia zip codes 22101 and 22102 real estate sales for January 2010.

Although our memories aren’t always accurate, remember that early 2009 had a cascading stock market and the country was falling into economic turmoil. It wasn’t until March 2009 that a bottom was established.

But please know that this information is reported from MRIS which is not guaranteed to be 100% accurate but should be considered pretty darn close.

Keep in mind, mortgage rates were again falling and super low (around 5%).

Home Sales Numbers for 22101 in January 2010:

Total Units Sold in January 2010, 24 vs. 13 in 2009 (up 84.62%)
Average Sold Price in January 2010, $1,243,281 vs. $1,1997,292 in 2009 (up 61.70%)
In the $700,000 to $799,999 range, 2 sold with 6 active listings
In the $800,000 to $899,999 range, 3 sold with 15 active listings
In the $900,000 to $999,999 range, 3 sold with 7 active listings
In the $1,000,000 to $2,499,999 range, 6 sold with 68 active listings
In the $2,500,000 to $4,999,999 range, 0 sold with 12 active listings
Average days on market in January 2010 was 93 vs. 175 in 2009
The average sold price in January 2010 was 81.54% of the average list price

Keep in mind there were big snow storms that shut down Northern Virginia for more than a week. I even had to push my car up the hill on Route 123 in Tyson’s Corner near International Drive at 10:00 pm one Saturday night!

Home Sales Numbers for 22102 in January 2010

Total Units Sold in January 2010, 15 vs. 7 in 2009 (up 114.29%)
Average Sold Price in January 2010, $798,493 vs. $626,429 in 2009 (up 27.47%) *
In the $700,000 to $799,999 range, 1 sold with 2 active listings
In the $800,000 to $899,999 range, 1 sold with 5 active listings
In the $900,000 to $999,999 range, 1 sold with 7 active listings
In the $1,000,000 to $2,499,999 range, 7 sold with 46 active listings
In the $2,500,000 to $4,999,999 range, 0 sold with 27 active listings
In the $5,000,000 & Over range, 0 sold with 6 active listings
Average days on market in January 2010 was 87 vs. 91 in 2009
The average sold price in January 2010 was 92.36% of the average list price

**This zip code reflects some extremes in pricing as there were 5 sales under $500k and 7 sales over $1.0 million. The McLean home market includes condominiums in all price ranges.