The Long & Foster Market Minute

Focus On: McLean Housing Market December 2019

Zip Code(s): 22101 and 22102
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -4%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -34%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 82 sold this month in McLean Real Estate versus 66 last month, an increase of 24%. This month's total units sold was lower than at this time last year, a decrease of 4% versus December 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 28 units or 11%. The total number of active inventory this December was 219 compared to 247 in December 2018. This month's total of 219 is lower than the previous month's total supply of available inventory of 334, a decrease of 34%.

Median Sale Price
Last December, the median sale price for McLean Homes was $920,000. This December, the median sale price was $952,500, an increase of 4% or $32,500 compared to last year. The current median sold price is 19% lower than in November.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Up 29%
Vs. Year Ago
Down -15%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -8%
Vs. Year Ago

Months of Supply
In December, there was 2.7 months of supply available in McLean, compared to 2.9 in December 2018. That is a decrease of 8% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 63 homes newly listed for sale in McLean compared to 49 in December 2018, an increase of 29%. There were 58 current contracts pending sale this December compared to 68 a year ago. The number of current contracts is 15% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in McLean was 97.7% of the average list price, which is 1.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 42, lower than the average last year, which was 64, a decrease of 34%.

The Long & Foster Market Minute McLean are defined as properties listed in zip code/s 22101 and 22102.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.