McLean’s market remains strong in March of 2010 with all indicators improving compared to the same time last year. Below are the details broken down by McLean’s two zip codes. The fact that 22102 has many more condominiums than 22101 explains why the average sales prices are lower in 22102.

Home Sales in 22101

A total of 30 units were sold,an increase of 66.67% over the same time last year, while the average days a property stayed on the market decreased by 40% to 114, vs 190 in March of 2009. The average sold price increased by 3.20% to $1,172,383, while the median sold price decreased by 4.72% to $857,500.

The average listing price for sold properties was $1,236,593, which is 1.82% less than March of 2009, but properties sold on average 94.81% of their listing price vs 90.19% over March 2009.

Overall, in March 2010, there were 79 new listings, while 48 properties were under contract.

Home Sales in 22102

A total of 24 units were sold, an increase of 84% over March 2009, while the average days a property stayed on the market decreased by 36.76%, to 43 from 68. The average sold price increased by 70.98% to $579,013 while the median sold price increased by 54% to $477,500.

The average listing price for properties sold was $607,237, an increase of 63.72% over March 2009, while in March 2010 sellers got on average 95.35% of their asking price compared to 91.30% in March of last year.

Overall, in March 2010, 70 new listings came on the market, while 40 properties were under contract.

In case you are curious

The most expensive property that sold in March 2010 was a newly built (2008) mansion with 5 bedrooms and 7.5 bathrooms in the Langley Farms neighborhood of McLean, selling for $6,160,000. Unless there is a mistake in the records I am looking at, the purchase was all cash.

The most expensive condominium sale in McLean for March 2010 was a 2 bedroom, 2.5 bath with 1620 sq. ft. on the 12th floor of Park Crest for $745,200.

Out of all sales in both zip codes there were 11 all cash transactions, mostly in 22102.

Remember, I can help you buy a home in McLean, even if it is not the most expensive sale of the month! Contact the best Realtor in McLean today!

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