The Long & Foster Market Minute
Focus On: McLean Housing Market February 2017
Zip Code(s): 22101 and 22102
Units Sold
65
Active Inventory
318
Median Sale Price
$775,000
Days On Market
76
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 16%
Vs. Year Ago
Down -7%
Vs. Year Ago
Down -8%
Vs. Year Ago
Down -7%
Vs. Year Ago
Units Sold
There was an increase in total units sold in February, with 65 sold this month in McLean Real Estate versus 57 last month, an increase of 14%. This month's total units sold was higher than at this time last year, an increase of 16% versus February 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 25 units or 7%. The total number of active inventory this February was 318 compared to 343 in February 2016. This month's total of 318 is higher than the previous month's total supply of available inventory of 302, an increase of 5%.

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Median Sale Price
Last February, the median sale price for McLean Homes was $842,500. This February, the median sale price was $775,000, a decrease of 8% or $67,500 compared to last year. The current median sold price is 24% lower than in January.

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
124
Current Contracts
70
Sold Vs. List Price
96.7%
Months of Supply
4.9
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -6%
Vs. Year Ago
Up 23%
Vs. Year Ago
Up 1.7%
Vs. Year Ago
Down -20%
Vs. Year Ago
Months of Supply
In February, there was 4.9 months of supply available in McLean, compared to 6.1 in February 2016. That is a decrease of 20% 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 124 homes newly listed for sale in McLean compared to 132 in February 2016, a decrease of 6%. There were 70 current contracts pending sale this February compared to 57 a year ago. The number of current contracts is 23% higher than last February.

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Sale Price to List Price Ratio
In February, the average sale price in McLean was 96.7% of the average list price, which is 1.6% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 76, lower than the average last year, which was 82, a decrease of 7%.

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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.