Reserve Real Estate News

McLean 22102 Market Analysis

(1/1/10-6/30/10)

Table 2 and Charts 2 compare the number of active listings (the supply) to the number of properties sold or under contract (the demand) in the local real estate market of McLean 22102 by price range for the period from 1/1/10 – 6/30/10.  Copies of this table and chart are attached in a pdf file.  Below is a link to that pdf file:

Market Analysis for 22102 – Second Quarter

Based on the balance, the market can be characterized three ways:

Buyers’ Market – More Active Listings (Supply) than Sales and Under Contract Listings (Demand)

Balanced Market – An Equal Number of Active Listings (Supply) vs. Sales and Under Contract Listings (Demand)

Sellers’ Market – More Sales and Under Contract Listings (Demand) than Active Listings (Supply)

22102 Summary

• $700,000 – $1,199,999 – Sellers’ Market
• $900,000 – $1,199,999 – If you factor in the withdrawn and expired listings, this range is closer to balanced.
• $1,200,000 – $1,499,999 – Balanced Market (without factoring in the withdrawn and expired listings)
• $1,200,000 – $1,499,999 – If you factor in the amount of withdrawn and expired listings, the number of active listings would increase by 60% and shift the market from balanced to a buyers’ market.
• $1,500,000 – $1,999,999 – Buyers’ Market
• $2,000,000 – $2,499,999 – Balanced Market (without factoring in the withdrawn and expired listings)
•  $2,000,000 – $2,499,999  – If you factor in the withdrawn and expired listings, this range shifts to a buyers’ market.
• $2,500,000 – $2,999,999 – Strong Buyers’ Market
• $2,500,000 – $2,999,999 – There are 4 times the number of active listings as sold and under contract listings.
• $3,000,000 and up – Strong Buyers’ Market
• $3,000,000 and up – There are 4 times the number of active listings as sold and under contract listings.

If you have any questions about the McLean-Great Falls real estate market, please don’t hesitate to contact me at tania@hbgroup.us.