The Long & Foster Market Minute

Focus On: McLean Housing Market March 2018

Zip Code(s): 22101 and 22102
Units Sold
73
Active Inventory
253
Median Sale Price
$877,000
Days On Market
64
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 7%
Vs. Year Ago
Down -27%
Vs. Year Ago
Down -2%
Vs. Year Ago
Up 39%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 73 sold this month in McLean Real Estate. This month's total units sold was higher than at this time last year.

Click here to compare the units sold of this area against other locations.
Active Inventory
Versus last year, the total number of homes available this month is lower by 92 units or 27%. The total number of active inventory this March was 253 compared to 345 in March 2017. This month's total of 253 is higher than the previous month's total supply of available inventory of 247, an increase of 2%.

Click here to compare the active inventory of this area against other locations.
Median Sale Price
Last March, the median sale price for McLean Homes was $897,000. This March, the median sale price was $877,000, a decrease of 2% or $20,000 compared to last year. The current median sold price is 22% higher than in February.

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

Click here to compare the median sale price of this area against other locations.

New Listings
151
Current Contracts
103
Sold Vs. List Price
96.7%
Months of Supply
3.5
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -10%
Vs. Year Ago
Down -5%
Vs. Year Ago
Down -1.1%
Vs. Year Ago
Down -32%
Vs. Year Ago

Months of Supply
In March, there was 3.5 months of supply available in McLean, compared to 5.1 in March 2017. That is a decrease of 32% 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.

Click here to compare the months of supply of this area against other locations.
New Listings & Current Contracts
This month there were 151 homes newly listed for sale in McLean compared to 167 in March 2017, a decrease of 10%. There were 103 current contracts pending sale this March compared to 108 a year ago. The number of current contracts is 5% lower than last March.

Click here to compare the new listings of this area against other locations.

Click here to compare the current contracts of this area against other locations.
Sale Price to List Price Ratio
In March, the average sale price in McLean was 96.7% of the average list price, which is 1.1% lower than at this time last year.

Click here to compare the sale price to list price ratio of this area against other locations.
Days on Market
This month, the average number of days on market was 64, higher than the average last year, which was 46, an increase of 39%.

Click here to compare the days on market of this area against other locations.
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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.