The Long & Foster Market Minute
Focus On: McLean Housing Market May 2017
Zip Code(s): 22101 and 22102
Units Sold
103
Active Inventory
348
Median Sale Price
$872,500
Days On Market
63
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 17%
Vs. Year Ago
Down -24%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 75%
Vs. Year Ago
Units Sold
There was an increase in total units sold in May, with 103 sold this month in McLean Real Estate versus 81 last month, an increase of 27%. This month's total units sold was higher than at this time last year, an increase of 17% versus May 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 111 units or 24%. The total number of active inventory this May was 348 compared to 459 in May 2016. This month's total of 348 is lower than the previous month's total supply of available inventory of 380, a decrease of 8%.

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Median Sale Price
Last May, the median sale price for McLean Homes was $915,000. This May, the median sale price was approximately the same at $872,500. The current median sold price is 5% lower than in May 2016.

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

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New Listings
157
Current Contracts
134
Sold Vs. List Price
96.7%
Months of Supply
3.4
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -2%
Vs. Year Ago
Up 46%
Vs. Year Ago
Down -0.7%
Vs. Year Ago
Down -35%
Vs. Year Ago
Months of Supply
In May, there was 3.4 months of supply available in McLean, compared to 5.2 in May 2016. That is a decrease of 35% 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.

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New Listings & Current Contracts
This month there were 157 homes newly listed for sale in McLean compared to 161 in May 2016, a decrease of 2%. There were 134 current contracts pending sale this May compared to 92 a year ago. The number of current contracts is 46% higher than last May.

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Sale Price to List Price Ratio
In May, the average sale price in McLean was 96.7% of the average list price, which is 0.7% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 63, higher than the average last year, which was 36, an increase of 75%.

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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.