$2,988,888
7,213 SqFt
7 Beds
•6 Full Baths, 1 Partial
Hui Zhang, Listing Office: Innovation Properties, LLC
Is Mc Lean, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Mc Lean has remained a Seller's Market.
Key Takeaway
Mc Lean is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mc Lean, VA
How much do homes in Mc Lean, VA cost?
Median Sold Price
$1,321,312
$426/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$34,368(+2.7%)
Key Takeaway
Homes in Mc Lean have sold for 2.7% more than they did a year ago.
Summary: The median home sold price in Mc Lean was $1,321,312 in October 2024, up 2.7% from last year, and the median price per square foot was $426.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $290K | $305K | +5.2% |
| 2 Bedrooms | $495K | $465K | -6.1% |
| 3 Bedrooms | $950K | $925K | -2.6% |
| 4 Bedrooms | $1.3M | $1.4M | +10.5% |
| 5+ Bedrooms | $2.1M | $2.5M | +16.3% |
Summary: Mc Lean housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.2%, 2 bedroom homes decreased by 6.1%, 3 bedroom homes decreased by 2.6%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 16.3%.
Median Sold Price Compared To Nearby Cities
| Hunter Mill | $673.3K | $723.1K | +7.4% |
| Falls Church | $702.2K | $751.7K | +7.0% |
| Dranesville | $1.2M | $1.2M | +5.5% |
| Providence | $631.7K | $664.9K | +5.3% |
| Mc Lean | $1.2M | $1.3M | +2.7% |
Housing Supply in Mc Lean, VA
How many homes are available in Mc Lean, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 282 | 295 | +4.6% |
Summary: The Mc Lean real estate market had 295 homes for sale in October 2024, a 4.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 26 | 23 | -11.5% |
| 2 Bedrooms | 37 | 43 | +16.2% |
| 3 Bedrooms | 33 | 31 | -6.1% |
| 4 Bedrooms | 33 | 31 | -6.1% |
| 5+ Bedrooms | 153 | 167 | +9.2% |
Summary: The Mc Lean housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.5%, 2 bedroom homes increased by 16.2%, 3 bedroom homes decreased by 6.1%, 4 bedroom homes decreased by 6.1%, and 5+ bedroom homes increased by 9.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 59 | 59 | 0.0% |
Asking Price vs. Sold Price
32 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mc Lean, you may be able to get a good deal. 54.2% of homes here sold below asking price last month.
Summary: A total of 59 homes were sold or pending in Mc Lean in October 2024, the same as the previous month. Of the 59 sold homes, 54% were sold under asking, 24% were sold at asking, and 22% were sold over asking.
Days on Market for Mc Lean, VA
How long does it take to sell a home in Mc Lean, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 37 Days | 37 Days | -0.3% |
Summary: Homes in Mc Lean had an average of 37 days on market in Oct 2024, down by 0.3% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mc Lean are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 59 homes were sold in Mc Lean; 59% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
