Remember when you were young? Your mother told you never to throw rocks and with good reasons: you could hurt somebody, you could hurt yourself, or you could break a neighbor's window.
If you're in McLean, Virginia, here's another reason: If you throw a rock, your more likely than not to hit a million dollar home. Take a look at this chart below which shows the distribution of prices for all McLean homes currently on the market.
Out of 264 homes on the market in McLean Virginia as of April 28, 2011, there are 175 priced over $1 million, and only 89 priced under the $1 million mark. Thus, 66.3% of homes for sale in McLean are priced over $1 million!
A closer look at the data shows that all the homes in McLean available for under $500K are condominiums and the least expensive single family home on the market in McLean is priced at $569,900.
It's one thing to look at currently listed properties to see what kinds of prices are out there in the market, but the question remains whether the million dollar homes in McLean have been selling. A look at the next chart answers that question with a definitive yes.
As you can see from the chart, the average sales price for home sales in Zip Codes 22101 and 22102 (the two zip codes in McLean, VA) have hovered around, or in the case of 22102, mostly well above $1 million. For March 2011, the average sales price in McLean 22101 was $931,088.
With all these high priced homes in McLean, mothers & others would be wise to tell their children not to throw rocks. If you're looking to buy or sell a home in McLean, click here to view properties on the market and contact me for more information.