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| FEBRUARY 2025 | |||
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| Zip Code(s): 22101 and 22102 | |||
| Units Sold 27 |
Active Inventory 163 |
Median Sale Price $1,350,000 |
Days On Market 53 |
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| Down Vs. Year Ago |
Down -27% Vs. Year Ago |
Down Vs. Year Ago |
Up 32% Vs. Year Ago |
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Units Sold
With relatively few transactions, there was a decrease in total units sold in February, with 27 sold this month in McLean Real Estate. This month's total units sold was lower than at this time last year, a decrease from February 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 60 units or 27%. The total number of active inventory this February was 163 compared to 223 in February 2024. This month's total of 163 is higher than the previous month's total supply of available inventory of 156, an increase of 4%. |
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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last February, the median sale price for McLean Homes was $1,392,500. This February, the median sale price was $1,350,000, a decrease of $42,500 compared to last year. The current median sold price is 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 64 |
Current Contracts 44 |
Sold Vs. List Price 98.5% |
Months of Supply 6.0 |
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| Down -40% Vs. Year Ago |
Down -31% Vs. Year Ago |
Up 0.8% Vs. Year Ago |
Up 19% Vs. Year Ago |
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Months of Supply
In February, there was 6.0 months of supply available in McLean, compared to 5.1 in February 2024. That is an increase of 19% 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 64 homes newly listed for sale in McLean compared to 107 in February 2024, a decrease of 40%. There were 44 current contracts pending sale this February compared to 64 a year ago. The number of current contracts is 31% lower than last February. |
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Sale Price to List Price Ratio
In February, the average sale price in McLean was 98.5% of the average list price, which is 0.8% higher than at this time last year. Days on Market
This month, the average number of days on market was 53, higher than the average last year, which was 40, an increase of 33%. | |||
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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. | |||
 Information 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. |
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