Market Analysis Comparison for McLean, VA 22102 – Quarter End 3/31/10 vs. Quarter End 3/31/11

Market Analysis Comparison for McLean, VA 22102

Quarter End 3/31/10 vs. Quarter End 3/31/11

I compared my market analyses for McLean, VA 22102 for the quarters ending 3/31/10 and 3/31/11 and compiled the data first into a table, then charted the data. The table and chart are below.

Summary of 22102 Comparison

All of the price ranges stayed virtually stable except the following two:

$2,000,000-$2,499,999 – between the first quarter of 2010 and the first quarter of 2011, this range became a weaker buyers’ market, or slightly better for sellers.
$3,000,000+ – between the first quarter of 2010 and the first quarter of 2011, this range also became a weaker buyers’ market.

From quarter end 3/31/10 to quarter end 3/31/11, the number of withdrawn and expired listings for the price range of $700,000-$899,000 increased from 4 to 10 (or more than double), and for the price range of $1,200,000-$1,499,999 increased from 2 to 12 (or six times). This indicates that sellers are not getting the prices that they expect and are taking them off of the market. For the price range of $2,000,000 – $2,499,999, the number of withdrawn and expired listings dropped from 7 to 1. This indicates that sellers are getting the price that they expect for their houses. The other price ranges stayed relatively unchanged.

Please refer to my previous post for the quarter end 3/31/10:

http://mcleanrealestate.wordpress.com/2010/06/08/first-quarter-2010-market-analysis-for-mclean-great-falls/

If you have any questions about this post or about the McLean-Great Falls real estate market, please don’t hesitate to contact me at taniahosmer@gmail.com.

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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