Is Mc Lean, 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, Mc Lean has remained a Seller's Market.
Key Takeaway
Mc Lean is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mc Lean, VA
How much do homes in Mc Lean, VA cost?
Median Sold Price
$1,279,037
$418/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Mc Lean have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in Mc Lean was $1,279,037 in April 2024, up 2.4% from last year, and the median price per square foot was $418.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $280K | $290K | +3.6% |
| 2 Bedrooms | $487K | $475K | -2.5% |
| 3 Bedrooms | $905K | $1.0M | +17.4% |
| 4 Bedrooms | $1.3M | $1.3M | +3.3% |
| 5+ Bedrooms | $2.3M | $2.2M | -2.8% |
Summary: Mc Lean housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.6%, 2 bedroom homes decreased by 2.5%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes decreased by 2.8%.
Median Sold Price Compared To Nearby Cities
| Dranesville | $1.1M | $1.2M | +9.8% |
| Hunter Mill | $657.6K | $702.7K | +6.9% |
| Falls Church | $687.6K | $731.3K | +6.4% |
| Mc Lean | $1.2M | $1.2M | +2.4% |
| Providence | $625.7K | $629.6K | +0.6% |
Housing Supply in Mc Lean, VA
How many homes are available in Mc Lean, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 285 | 357 | +25.3% |
Summary: The Mc Lean real estate market had 357 homes for sale in April 2024, a 25.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 43 | 47 | +9.3% |
| 2 Bedrooms | 34 | 46 | +35.3% |
| 3 Bedrooms | 25 | 34 | +36.0% |
| 4 Bedrooms | 31 | 33 | +6.5% |
| 5+ Bedrooms | 152 | 197 | +29.6% |
Summary: The Mc Lean housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.3%, 2 bedroom homes increased by 35.3%, 3 bedroom homes increased by 36%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 29.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 62 | 77 | +24.2% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mc Lean, you could pay more than the asking price. 39% of homes here sold above asking price last month.
Summary: A total of 77 homes were sold or pending in Mc Lean in April 2024, up by 24.2% month-over-month. Of the 77 sold homes, 38% were sold under asking, 23% were sold at asking, and 39% were sold over asking.
Days on Market for Mc Lean, VA
How long does it take to sell a home in Mc Lean, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 27 Days | 26 Days | -3.9% |
Summary: Homes in Mc Lean had an average of 26 days on market in Apr 2024, down by 3.9% compared to last year.
Breakdown of Home Sale Times
62 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mc Lean are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 77 homes were sold in Mc Lean; 81% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
