McLean, VA 22102 Market Analysis – Second Quarter 2010

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$900,000 – $1,199,999 – If you factor in the withdrawn and expired listings, this range is closer to balanced.
$1,200,000 – $1,499,999 – Balanced Market (without factoring in the withdrawn and expired listings)
$1,200,000 – $1,499,999 – If you factor in the amount of withdrawn and expired listings, the number of active listings would increase by 60% and shift the market from balanced to a buyers’ market.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$2,000,000 – $2,499,999 – Balanced Market (without factoring in the withdrawn and expired listings)
$2,000,000 – $2,499,999 – If you factor in the withdrawn and expired listings, this range shifts to a buyers’ market.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.

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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