Reserve Real Estate News

Market Analysis Comparison for 22102 (McLean, VA)

for the Past Four Quarters

I compared my last four market analyses for 22102 for the quarters ending 9/30/09, 12/31/09, 3/31/10 and 6/30/10 and compiled the data first into a table, then charted the data.  I have attached the resulting table and chart in a pdf file.  

Please refer to the link below:

Last Four Quarter Comparison for 22102

Summary of 22102 Comparison

• $700,000 – $899,999 – between the third quarter of 2009 and the fourth quarter of 2009, this range stayed a sellers’ market, but became a weaker sellers’ market.  Between the fourth quarter of 2009 and the first quarter of 2010, this range became an even weaker sellers’ market.  Between the first quarter of 2010 and the second quarter of 2010, it became an even weaker sellers’ market.
• $900,000 – $1,199,999 – between the third quarter of 2009 and the fourth quarter of 2009, this range switched from a buyers’ market to a sellers’ market.  Between the fourth quarter of 2009 and the first quarter of 2010, this range became a slightly weaker sellers’ market.  Between the first quarter of 2010 and the second quarter of 2010, it became an even weaker sellers’ market.
• $1,200,000 – $1,499,999 – between the third quarter of 2009 and the fourth quarter of 2009, this range switched from a buyers’ market to a balanced market.  Between the fourth quarter of 2009 and the first quarter of 2010, this range stayed a balanced market.  Between the first quarter of 2010 and the second quarter of 2010, it stayed a balanced market, but started shifting to a seller’s market.
• $1,500,000 – $1,999,999 – between the third quarter of 2009 and the fourth quarter of 2009, this range stayed a buyers’ market, but became a stronger buyers’ market.  Between the fourth quarter of 2009 and the first quarter of 2010, this range became a slightly stronger buyers’ market.  Between the first quarter of 2010 and the second quarter of 2010, it became a stronger buyers’ market.
• $2,000,000 – $2,499,999 – between the third quarter of 2009 and the fourth quarter of 2009, this range stayed a buyers’ market, but became a slightly stronger buyers’ market.  Between the fourth quarter of 2009 and the first quarter of 2010, this range stayed a buyers’ market, but became a strong buyers’ market.  Between the first quarter of 2010 and the second quarter of 2010, this range switched from a strong buyers’ market to a balanced market.
• $2,500,000 – $2,999,999 –  between the third quarter of 2009 and the fourth quarter of 2009, this range switched from a buyers’ market to a strong buyers’ market. Between the fourth quarter of 2009 and the first quarter of 2010, this range became an even stronger buyers’ market.  Between the first quarter of 2010 and the second quarter of 2010, this range stayed a strong buyers’ market, but became a weaker buyers’ market.
• $3,000,000+ – between the third quarter of 2009 and the fourth quarter of 2009, this range stayed a strong buyers’ market, but weakened a little.   Between the fourth quarter of 2009 and the first quarter of 2010, this range became a stronger buyers’ market.  Between the first quarter of 2010 and the second quarter of 2010, this range stayed a strong buyers’ market, but became a weaker buyers’ market.

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 tania@hbgroup.us.

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.

Settlement Scheduled – 1026 Founders Ridge

The property located at 1026 Founders Ridge Lane, McLean, Virginia 22102 in the Reserve neighborhood has been scheduled for settlement on Friday, August 6, 2010.  It was listed for $3,695,000 and went under contract in 8 days on June 25, 2010.  I will post the sales price once it settles.

Here is a link to the full listings for the property:

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1582934X2DOF&p=DE-117891245-35

If you have any questions about this listing or any other listing in the Reserve, please feel free to call me at 703-403-8225.