Is McLean, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, McLean has remained a Seller's Market.
Key Takeaway
McLean is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in McLean, VA
How much do homes in McLean, VA cost?
Median Sold Price
$1,269,305
$417/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in McLean have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in McLean was $1,269,305 in April 2024, up 5.8% from last year, and the median price per square foot was $417.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $285K | $295K | +3.5% |
| 2 Bedrooms | $504.5K | $478K | -5.3% |
| 3 Bedrooms | $843.7K | $925K | +9.6% |
| 4 Bedrooms | $1.2M | $1.2M | -0.4% |
| 5+ Bedrooms | $1.9M | $2.0M | +5.7% |
Summary: McLean housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.5%, 2 bedroom homes decreased by 5.3%, 3 bedroom homes increased by 9.6%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes increased by 5.7%.
Housing Supply in McLean, VA
How many homes are available in McLean, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 348 | 421 | +21.0% |
Summary: The McLean real estate market had 421 homes for sale in April 2024, a 21.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 44 | 47 | +6.8% |
| 2 Bedrooms | 34 | 48 | +41.2% |
| 3 Bedrooms | 36 | 42 | +16.7% |
| 4 Bedrooms | 44 | 44 | 0.0% |
| 5+ Bedrooms | 190 | 240 | +26.3% |
Summary: The McLean housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.8%, 2 bedroom homes increased by 41.2%, 3 bedroom homes increased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 26.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 76 | 99 | +30.3% |
Asking Price vs. Sold Price
32 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
45 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in McLean, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.
Summary: A total of 99 homes were sold or pending in McLean in April 2024, up by 30.3% month-over-month. Of the 99 sold homes, 32% were sold under asking, 22% were sold at asking, and 45% were sold over asking.
Days on Market for McLean, VA
How long does it take to sell a home in McLean, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 25 Days | 23 Days | -7.7% |
Summary: Homes in McLean had an average of 23 days on market in Apr 2024, down by 7.7% compared to last year.
Breakdown of Home Sale Times
83 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in McLean are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 99 homes were sold in McLean; 84% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
