McLean December 2023 Home Sales:

• 33 homes went under contract in McLean. This is up 14% from the same time period in 2022. 

• 34% of the homes went to settlement in December 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,306,012 (down 7% from the same time period in 2022 when it was $1,405,782).

• 51 homes came on the market. That’s up 96% from December 2022.

• Homes that sold (closed) averaged 35 days on market, 6 days slower than in December 2022.

• There is currently a 2.4 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 153 McLean homes for sale (townhouse, condo and single-family).

Additional Year-End Stats – 2023 vs 2022:

Average sold price decreased by 2.5% ($1,493,597 vs $1,532,136)

Total units sold decreased by 12%

Average sales price to original list price ratio decreased – 99.1% vs 99.6%

OVERALL:  McLean remained in a Seller’s Market.   Inventory decreased from the prior month but was up 16% year-over-year.   The number of homes going under contract decreased but the number coming on the market was up from last month…both numbers are up from year-end 2022.  Average sold price was down from November and compared to the same time last year.

There is still a difference when we segment this market out by price.  There is a 5.1 month supply of homes over $1.5 Million in McLean (more of a Balanced Market - properties are taking a longer to sell) and in the under $1.5 Million price range – there is a 1.1 month supply, therefore this segment is seeing more of a  Seller’s Market.

McLean November 2023 Home Sales:

• 39 homes went under contract in McLean. This is down 9% from the same time period in 2022. 

• 44% of the homes went to settlement in November 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,752,077 (up 17% from the same time period in 2022 when it was $1,492,333).

• 44 homes came on the market. That’s down 28% from November 2022.

• Homes that sold (closed) averaged 38 days on market, 8 days slower than in October 2022.

• There is currently a 2.7 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 169 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remained in a Seller’s Market.   Inventory decreased from the prior month and was down 2% year-over-year.   The number of homes going under contract and coming on the market decreased from last month and remained down compared to last year..  Average sold price was up from October and compared to the same time last year.

There is still a difference when we segment this market out by price.  There is a 4.8 month supply of homes over $1.5 Million in McLean (more of a Balanced Market - properties are taking a longer to sell) and in the under $1.5 Million price range – there is a 1.4 month supply, therefore this segment is seeing more of a  Seller’s Market.

McLean October 2023 Home Sales:

• 42 homes went under contract in McLean. This is down 9% from the same time period in 2022. 

• 46% of the homes went to settlement in October 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,431,629 (down 8% from the same time period in 2022 when it was $1,555,864).

• 84 homes came on the market. That’s down 8% from October 2022.

• Homes that sold (closed) averaged 38 days on market, 8 days slower than in October 2022.

• There is currently a 2.9 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 180 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remained in a Seller’s Market.   Inventory increased from the prior month but was down 6% year-over-year.   The number of homes going under contract decreased and coming on the market was basically unchanged.  Average sold price was  from up September but still down compared to the same time last year.

There is still a difference when we segment this market out by price.  There is a 3.6 month supply of homes over $1.5 Million in McLean (more of a Balanced Market - properties are taking a longer to sell) and in the under $1.5 Million price range – there is a 1.4 month supply, therefore this segment is seeing more of a  Seller’s Market.

McLean September/Q3 2023 Home Sales:

• 64 homes went under contract in McLean. This is up 28% from the same time period in 2022. 

• 67% of the homes went to settlement in September 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,032,122 (down 15% from the same time period in 2022 when it was $1,210,108).

• 83 homes came on the market. That’s down 27% from September 2022.

• Homes that sold (closed) averaged 17 days on market, 12 days faster than in September 2022.

• There is currently a 2.6 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 160 McLean homes for sale (townhouse, condo and single-family).

Additional 3rd Quarter-End Stats – 2023 vs 2022:

Average sold price increased by 7.2% ($1,551,827 vs $1,447,940)

Total units sold increased by 1.9%

Average sales price to original list price ratio increased – 99.2% vs 97.8%

OVERALL:  McLean remained in a Seller’s Market.   Inventory increased from the prior month but was down 12% year-over-year.   The number of homes going under contract and coming on the market was basically unchanged.  Average sold price was down from August and compared to the same time last year.

There is still a difference when we segment this market out by price.  There is a 3.7 month supply of homes over $1.5 Million in McLean (more of a Balanced Market - properties are taking a longer to sell) and in the under $1.5 Million price range – there is a 1.1 month supply, therefore this segment is seeing more of a  Seller’s Market.

McLean August 2023 Home Sales:

• 63 homes went under contract in McLean. This is up 1.6% from the same time period in 2022. 

• 41% of the homes went to settlement in August 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,738,120 (up 29% from the same time period in 2022 when it was $1,347,292).

• 81 homes came on the market. That’s up 9.5% from August 2022.

• Homes that sold (closed) averaged 53 days on market, 14 days slower than in August 2022.

• There is currently a 2.4 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 146 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remained in a Seller’s Market.   Inventory decreased slightly from the prior month and was down 12% year-over-year.   The number of homes going under contract and coming on the market were also down but very slightly.  And both numbers are up compared this time last year.  Average sold price was up from July and compared to the same time last year.

There is still a difference when we segment this market out by price.  There is a 3.1 month supply of homes over $1.5 Million in McLean (more of a Balanced Market - properties are taking a longer to sell) and in the under $1.5 Million price range – there is a 1.0 month supply, therefore this segment is seeing more of a  Seller’s Market.

McLean July 2023 Home Sales:

• 65 homes went under contract in McLean. This is up 12% from the same time period in 2022. 

• 56% of the homes went to settlement in July 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,689,499, (up 4% from the same time period in 2022 when it was $1,630,173).

• 85 homes came on the market. That’s down 14% from July 2022.

• Homes that sold (closed) averaged 32 days on market, 8 days slower than in July 2022.

• There is currently a 2.6 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 155 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remained in a Seller’s Market.   Inventory decreased slightly from the prior month and was down 23% year-over-year.   The number of homes going under contract and coming on the market were also down.  And both numbers continue to be down from this time last year.  Average sold price was up from June and compared to the same time last year.

There is still a difference when we segment this market out by price.  There is a 3.2 month supply of homes over $1.5 Million in McLean (more of a Balanced Market - properties are taking a longer to sell) and in the under $1.5 Million price range – there is a 1.2 month supply, therefore this segment is seeing more of a  Seller’s Market.

McLean June/Q2 2023 Home Sales:

• 72 homes went under contract in McLean. This is down 18% from the same time period in 2022. 

• 67% of the homes went to settlement in June 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,553,029 (down 2% from the same time period in 2022 when it was $1,585,257).

• 92 homes came on the market. That’s down 34% from June 2022.

• Homes that sold (closed) averaged 25 days on market, 3 days slower than in June 2022.

• There is currently a 2.7 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 164 McLean homes for sale (townhouse, condo and single-family).

Additional 2nd Quarter-End Stats – 2023 vs 2022:

Average sold price increased by 4.3% ($1,489,380 vs $1,427,858)

Total units sold decreased by 15%

Average sales price to original list price ratio decreased – 100.0% vs 102.3%

OVERALL:  McLean remained in a Seller’s Market.   Inventory decreased just slightly from the prior month and was down 21% year-over-year.   The number of homes going under contract and coming on the market were down slightly.  And both numbers continue to be down significantly from this time last year.  Average sold price was up from May but down compared to the same time last year.

There is still a difference when we segment this market out by price.  There is a 4.1 month supply of homes over $1.5 Million in McLean (more of a Balanced Market - properties are taking a longer to sell) and in the under $1.5 Million price range – there is a 1.3 month supply, therefore this segment is seeing more of a  Seller’s Market.

McLean May 2023 Home Sales:

• 83 homes went under contract in McLean. This is unchanged from the same time period in 2022. 

• 67% of the homes went to settlement in May 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,469,669 (up 7% from the same time period in 2022 when it was $1,372,970).

• 94 homes came on the market. That’s down 31% from May 2022.

• Homes that sold (closed) averaged 22 days on market, 4 days slower than in May 2022.

• There is currently a 2.7 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 168 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remained in a Seller’s Market.   Inventory was basically unchanged from the prior month and was down 14% year-over-year.   The number of homes going under contract and coming on the market were up slightly.  The number of new listings coming on the market continues to be down significantly from this time last year.  Average sold price was up just slightly from April and up compared to the same time last year.

There is still a difference when we segment this market out by price.  There is a 5.0 month supply of homes over $1.5 Million in McLean (more of a Balanced Market - properties are taking a longer to sell) and in the under $1.5 Million price range – there is a 1.2 month supply, therefore this segment is seeing more of a  Seller’s Market.

McLean April 2023 Home Sales:

• 81 homes went under contract in McLean. This is down 19% from the same time period in 2022. 

• 59% of the homes went to settlement in April 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,439,084 (up 9% from the same time period in 2022 when it was $1,318,780).

• 92 homes came on the market. That’s down 43% from April 2022.

• Homes that sold (closed) averaged 28 days on market, 2 days faster than in April 2022.

• There is currently a 2.7 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 167 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remained in a Seller’s Market.   Inventory was basically unchanged from the prior month and was down 5.7% year-over-year.   The number of homes going under contract was up slightly but the number coming on the market decreased. Both of these numbers continue to be down from this time last year.  Average sold price was down from March but up compared to the same time last year.

There is still a difference when we segment this market out by price.  There is a 5.5 month supply of homes over $1.5 Million in McLean (more of a Balanced Market - properties are taking a longer to sell) and in the under $1.5 Million price range – there is a 1.5 month supply, therefore this segment is seeing more of a  Seller’s Market.

McLean March/Q1 2023 Home Sales:

• 78 homes went under contract in McLean. This is down 27% from the same time period in 2022. 

• 53% of the homes went to settlement in March 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,522,587 (down 9% from the same time period in 2022 when it was $1,665,510).

• 119 homes came on the market. That’s down 13% from March 2022.

• Homes that sold (closed) averaged 32 days on market, 7 days faster than in March 2022.

• There is currently a 2.6 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 168 McLean homes for sale (townhouse, condo and single-family).

Additional 1st Quarter-End Stats – 2022 vs 2023:

Average sold price decreased by 15% ($1,691,174 vs $1,445,421)

Total units sold decreased by 31%

Average sales price to original list price ratio decreased – 99.2% vs 98.7%

OVERALL:  McLean remained in a Seller’s Market.   Inventory increased from the prior month and was up 20% year-over-year.   The number of homes going under contract and coming on the market also increased, but both of these numbers continue to be down from this time last year.  Average sold price was up from February but down compared to the end of the first quarter last year.

There is still a difference when we segment this market out by price.  There is a 5.5 month supply of homes over $1.5 Million in McLean (more of a Balanced Market - properties are taking a longer to sell) and in the under $1.5 Million price range – there is a 1.7 month supply, therefore this segment is seeing more of a  Seller’s Market.

McLean February 2023 Home Sales:

• 68 homes went under contract in McLean. This is down 23% from the same time period in 2022. 

• 34% of the homes went to settlement in February 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,203,490 (down 24% from the same time period in 2022 when it was $1,575,746).

• 84 homes came on the market. That’s down 27% from February 2022.

• Homes that sold (closed) averaged 54 days on market, the same  as in February 2022.

• There is currently a 2.1 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 146 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remained in a Seller’s Market.   Inventory increased slightly from the prior month and was up 11% year-over-year.  The number of homes going under contract and coming on the market increased, but both of these numbers continue to be down from this time last year.  Average sold price was down from December and compared to the end of February last year.

There is still a difference when we segment this market out by price.  There is a 6.0 month supply of homes over $1.5 Million in McLean (more of a Balanced Market - properties are taking a longer to sell) and in the under $1.5 Million price range – there is a 1.9 month supply, therefore this segment is seeing more of a  Seller’s Market.

McLean January 2023 Home Sales:

• 47 homes went under contract in McLean. This is down 25% from the same time period in 2022. 

• 23% of the homes went to settlement in January 2023, sold in 10 days or less from when they hit the market.  

• Average sold price was $1,635,263 (down 12% from the same time period in 2022 when it was $1,857,498).

• 78 homes came on the market. That’s down 6% from January 2022.

• Homes that sold (closed) averaged 52 days on market, 24 days faster than in January 2022.

• There is currently a 2.0 month supply of homes (remember, in a balanced market - the demand from buyers equals the supply from sellers - there is a 5-6 months supply) in McLean – and 139 McLean homes for sale (townhouse, condo and single-family).

OVERALL:  McLean remained in a Seller’s Market.   Inventory increased slightly from the prior month and was up 13% year-over-year.  The number of homes going under contract and coming on the market increased, but both of these numbers continue to be down from this time last year.  Average sold price was up from December but down compared to the end of January last year.

There is still a difference when we segment this market out by price.  There is a 5.6 month supply of homes over $1.5 Million in McLean (properties are taking a bit longer to sell) and in the under $1.5 Million price range – there is a 1.7 month supply, therefore this segment is seeing more of a  Seller’s Market.

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