Market Analysis for 22102 – Quarter End 3/31/11

Market Analysis for 22102 – Quarter End 3/31/11

The following table and chart 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 9/30/10 – 3/31/11. To get an enlarged view of the table or chart, click on them.

This analysis is a snapshot in time. The real estate market constantly changes just like any other market. However, this is an accurate picture of the local real estate market at this point in time. 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. If you factor in the withdrawn and expired listings, this range is closer to balanced.
$1,200,000 – $1,499,999 – Balanced Market (without factoring in the withdrawn and expired listings)
$1,200,000 – $1,499,999 – If you factor in the amount of withdrawn and expired listings, the number of active listings would increase by 80% and shift the market from balanced to a buyers’ market.
$1,500,000 – $1,999,999 – Buyers’ Market (without factoring in the withdrawn and expired listings)
$1,500,000 – $1,999,999 – If you factor in the withdrawn and expired listings, the number of active listings would be 3 times the number of sold plus under contract listings.
$2,000,000 – $2,499,999 – Buyers’ Market. The 1 withdrawn listing is negligibly significant.
$2,500,000 – $2,999,999 – Strong Buyers’ Market
$2,500,000 – $2,999,999 – There are 6 times the number of active listings as sold and under contract listings.
$3,000,000 and up – Buyers’ Market
$3,000,000 and up – There are over twice 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 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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