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Spring 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in McLean and near Tysons Corner. Low rates make a home purchase a great value! Call now for more information at 703-855-7696
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| Average Home Price | $700,000 - View Graph Trend |
| Average Price Compared to Last Year | No Change |
| Average Time on Market | 60-90 days |
| Best Selling Price Range | $750,000 - $799,000 |
| Worst Selling Price Range | $1,000,000+ |
| Prices As % of Asking Price | 95-100% |
| Existing Home Prices for the past 90 days are? | Increasing |
| Market Trend | Decreasing |
| Buyers’ or Sellers’ Market | Equal buyers and sellers |
| Buyer Activity for the past 90 days in McLean is | Increasing |
| Seller Activity for the past 90 days in McLean is? | Increasing |
| Multiple Offers? | Yes |
| Multiple Offers Commentary | Seller’s are getting multiple offers on Foreclosures and Short Sales. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 15-20% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | Qualified buyers are getting better terms for jumbo loans. |
| Housing Inventory | Good supply - Some Prices |
| Inventory Comments | Well priced homes selling. However, market over $1,000,000 still slow. |
| Greatest Activity | Repeat Buyers |
| Reason to Buy/Sell | Job Growth |
| Nearest Metro Area | Washington |
| Housing Hot Spots | Most cities within the Fairfax County area are considered ’Housing Hotspots’ Average price per square foot for McLean VA was $429, an increase of 14.1% compared to the same period last year. The median sales price for homes in McLean VA for Dec 11 to Feb 12 was $690,000 based on 75 home sales. Compared to the same period one year ago, the median home sales price decreased 1.4%, or $10,000, and the number of home sales decreased 45.7%. There are currently 254 resale and new homes in McLean on Trulia, including 12 open houses, as well as 24 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in McLean VA was $2,377,613 for the week ending Feb 29, which represents a decrease of 2.3%, or $56,370, compared to the prior week. |
| Average Sold Price | $700,000 - View Graph Trend |
McLean Local News
News for McLean, VA - August 22nd, 2011 2:06pm
Average price per square foot for McLean VA was $399, a decrease of 0.7% compared to the same period last year. The median sales price for homes in McLean VA for May 11 to Jul 11 was $770,000 based on 170 home sales. Compared to the same period one year ago, the median home sales price decreased 3.6%, or $29,000, and the number of home sales decreased 17.1%. There are currently 372 resale and new homes in McLean on Trulia, including 4 open houses, as well as 39 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in McLean VA was $1,966,898 for the week ending Aug 10, which represents a decrease of 3.1%, or $62,478, compared to the prior week.
Contact Information
Roger Nakazawa
703-855-7696
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Blog Archives
Mortgage Rates
– May 28th, 2012 –
---------------------------------
30 yr. fixed rate: 3.82%---------------------------------
15 yr. fixed rate: 3.11%
30 yr. jumbo rate: 4.38%
15 yr. jumbo rate: 3.61%
Home Values
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Agent quarterly survey shows growing optimism toward a housing market recovery
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
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Request More Information Let me answer your questions! Ask Me!
Roger Nakazawa
Olympic Realty
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 703-855-7696
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