The most startling piece of information when examining the January sales for single family homes in McLean over the past 5 years is how low the January 2009 market fell. In January 2009, only 15 single family homes sold, the fewest in the last five years, after staying on the market for 120 days, the longest DOM-P in the past five years. More striking is that the median list price of $649,900 and median sold price of $648,500 was half the values versus January 2007, which saw prices at $1,310,000 and $1,300,000 respectively.
In January 2010, fortunately, the market rebounded and the numbers improved across the board. The 18 homes that changed hands last month was identical to January 2008, although not nearly as high as the 31 that sold in 2007. The 75 median days on the property was down 45 days from last year and better than any of the previous five Januaries except for January 2006. The median list price and median sold price also climbed back over a million in January 2010 and were very similar to the January 2006 prices for both.
Below is a report of single family home sales in McLean for the past five Januaries. Data is gleaned from MRIS.
Comments(0)