In April, McLean’s real estate market continued its positive trend, with big improvements over April 2009. The statistics below speak for themselves.

Home Sales in 22101

In April we saw 43 properties go to settlement, an increase of 53.57% over April 2009, while the average days a property stayed on the market decreased by 56.67% to 65, vs. 150 in April of 2009. The average sold price stayed pretty much the same as last year (decreased by 0.25%) to $859,531, while the median sold price increased by 3.81% to $770,000.

The average listing price for sold properties was $899,895, which is 4.92% less than April of 2009, but properties sold on average for 95.51% of their listing price vs. 91.04% in April 2009.

Overall, in April 2010, there were 101 new listings (for a total of 207 active listings), while 48 properties were under contract.

Home Sales in 22102

In April 2010, a total of 25 units were sold, an increase of 38.89% over April 2009, while the average days a property stayed on the market decreased by 28.32%, to 81 from 113. The average sold price increased by 50.62% to $831,264, while the median sold price increased by 2.09% to $339,900.

The average listing price for properties sold was $893,136, an increase of 54.72% over April 2009, while in April 2010 sellers got, on average, 93.07% of their asking price compared to 95.62% in April of last year.

Overall, in April 2010, 78 new listings came on the market (for a total of 196 active listings), while 42 properties were under contract.

In case you are curious

The most expensive property that sold in April 2010 was a 12,000 sq.f. home built in 2003 with 7 bedrooms, 7 full baths, 2 half baths and a 4 car garage, in The Reserves neighborhood of McLean. After staying on the market for 286 days it was purchased by an all cash buyer for $3,050,000, which was $445,000 below the asking price of $3,495,000.

The most expensive condominium sale in McLean for April 2010 was a 2 bedroom, 2.5 bath condo with 2,092 sq.f.. This condominium, in the Palladium at McLean, sold for $965,000. I spend quite a bit of time in the Palladium (visiting friends) and I have to admit it is a state of the art building, built well, with excellent fitness facilities and a fantastic common area/party room.

Out of all sales in both zip codes there were 14 all cash transactions, mostly in 22102.

Remember, whether you are looking for the most expensive home McLean has to offer, or just a good value condo or townhouse, I can help you find it and represent you as your buyer agent through the whole purchase contract process.

And if you are a proud owner of a home in McLean, don’t list your home unless you talk to me and find out how I will market your home more successfully.

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