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:
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$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From quarter end 3/31/10 to quarter end 3/31/11, the number of withdrawn and expired listings for the price range of $700,000-$899,000 increased from 4 to 10 (or more than double), and for the price range of $1,200,000-$1,499,999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 For the price range of $2,000,000 – $2,499,999, the number of withdrawn and expired listings dropped from 7 to 1.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.
All of the contract contingencies for the sale of 1043 Founders Ridge Drive, McLean, VA 22102 were removed on 5/27/11. Settlement is scheduled for 6/23/11.
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