McLean VA Housing Market Stats for January 2018: Single Family Homes

Housing Market Updates, Inside McLean VA by Natasha Lingle

January 2018 McLean VA Housing Market Updates for Single Family Homes

McLean VA Housing Market Data At Glance:

• Active Listings: 145 (Down -28.9% from January 2017).
• Sold Listings: 34 (0% change from January 2017)
• Average Days on the Market: 101 (Up +57.8% from January 2017)
• Average Price: $2,046,078 (Up +43% from January 2017)
• Total Under Contract: 46 (Down -8% from January 2017)

According to the newest data released by Metropolitan Regional Information System or MRIS, McLean VA housing market is going strong. The statistics for single family homes are showing some signs of shrinking inventory and the prices are on the rise.

WHAT DO THESE STATS MEAN:

If you are a SELLER, it might be a good time to sell. The prices are higher in comparison to the January of 2017, the inventory for single family homes in McLean VA is trending downwards – which might lead to higher demand, even higher prices and, as a consequence, shorter days on the market.

If you are a BUYER who is looking to buy fast, with lower inventory and shorter DOM, you might encounter competitive situation or get into a bidding war. If you find the house that you like, don’t procrastinate and present offer as soon as possible in order to secure a deal.

Whether you are selling or buying a single family home in McLean VA, make sure your real estate agent provides you with up to date Vienna VA housing market data, so you make an educated decision about a purchase or a sale of your home.

If you are looking to buy, please check out my article: “10 Steps to Buying a Home”.

And, as always, if you have any specific questions about real estate market or if you need help buying and/or selling real estate in Vienna VA area, feel free to contact me.

• Search McLean VA Condos for Sale
• Search McLean VA Single Family Homes for Sale
• Search McLean VA New Construction Homes for Sale
• Search McLean VA Lots & Land for Sale

Related Articles

Moving to McLean, VA? Reasons You Will Love Living Here!

Inside McLean VA | Northern Virginia

McLean is an influential Northern Virginian town located on the western banks of the Potomac River just 8 miles northwest of downtown Washington, D.C. With luxurious homes, state-of-the-art healthcare facilities, many of the country’s finest educational institutions, upscale shopping venues, and award-winning restaurants, real estate in this beautiful town is highly coveted.

Read More

How to Vet A Parcel and Buy a Perfect Lot in Vienna VA, McLean VA & Around NOVA: 8 Land Purchasing Questions to Ask Before Submitting an Offer

Inside McLean VA | Inside Vienna VA | New Construction Homes

Before writing an offer and presenting your contract to purchase, you should be aware that land purchase requires extensive buyer due diligence. Most of the sellers won’t have all the answers, so it’s imperative to investigate all potential issues thoroughly until you become confident in the purchase. In addition, Virginia is a caveat emptor (buyer beware) jurisdiction that means that the sellers of realtors in Virginia are not necessarily required to fully disclose all property defects when you buy the property.

Read More

The Verse Condos in McLean, VA

Buying a Home | Inside McLean VA | Tysons

Soaring 25 stories high and housing 140 residences, The Verse offers an exclusive collection of elegant and sophisticated condominiums and luxurious amenities with breathtaking panoramic views.

Read More

Thriving Transformation: New Developments Shaping Tysons, Virginia

Inside McLean VA | Tysons

Tysons, Virginia is undergoing a remarkable transformation, solidifying its position as a vibrant and dynamic urban center.

Read More