Market Conditions in the Reserve in McLean, VA as of 6/30/10

Market Conditions in the Reserve in McLean, VA as of 6/30/10

Properties in the Reserve are selling more readily than properties in 22102 outside of the Reserve neighborhood in the same price range.

As of 6/30/10, 7 properties were listed for sale in the Reserve.  There have been 3 sales in the past 6 months in the Reserve and there are currently 3 properties under contract.

This means that the supply and demand for properties in the Reserve are about equal or “balanced”.  The demand is the number of sold properties plus the number currently under contract (3+3).  The supply is the number of properties currently on the market (7).

Attached is a pdf file which shows more detailed information about these listings.  Here is the link to that file:

Reserve Market as of 063010

One of the “under contract” properties – 1026 Founders Ridge Lane – went on the market on 6/17/10 for $3,695,000 and went under contract in 8 days.

I will post the sales price of the under contract properties once they settle.

In contrast, in the postal code area of 22102 overall excluding the properties in the Reserve, 37 properties are listed for sale for $2,400,000+, with 3 under contract and 4 sold.  Thus, the supply is more than 5 times the demand, i.e. not balanced.

A pdf file with more detailed information on these listings is also attached.  Here is a link to that file:

22102 $2.4M+ Market Outside Reserve

Clearly, at the present time, properties in the Reserve are selling more easily than properties in 22102 outside of the Reserve neighborhood in the same price range ($2,400,000+).

If you have any questions about this or any other post, please contact me at tania@hbgroup.us.

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Tania Hosmer

Tania grew up in Northern Virginia and is a life long resident of the area. She has lived in the Reserve in McLean, Virginia with her husband and 2 children since 2001. Tania and her husband Jim purchased their lot in Section 1 of the Reserve in June of 1999 and built their home in the following 18 months. She holds a bachelor’s degree in Physics from Mary Washington College and an MBA in Finance from The George Washington University. Tania began her real estate career over 20 years ago. In addition to real estate sales, her experience includes managing residential renovation projects in the greater Washington area, planning and overseeing new residential construction and managing rental properties. After completing her MBA in 1996, she joined CIG International (a Washington-based residential real estate investment firm) as Vice President where she conducted extensive due diligence investigations of real estate investment opportunities and oversaw ongoing investment projects. Tania became a residential real estate agent in 2006.

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Tania’s Contact Information:

Tania Hosmer
Keller Williams Realty
6820 Elm Street
McLean, Virginia 22101
cell: 703-403-8225
email: taniahosmer@gmail.com
website: www.taniahosmer.com


If your home is currently listed with another broker, this is not intended as a solicitation of your listing.

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