McLean Home Sale Statistics – How Long To Sell Your Home and Are Prices Rising?

If you’re thinking of buying or selling a home in McLean VA in 2017, then you’re probably wondering things like:

  • “How long are homes on the market?”
  • “Will I have to pay over list price or can I get a deal?
  • “How long will it take to sell my house?”
  • “Will I have to negotiate my list price?”
  • “Buyer’s Market or Seller’s Market?”

FREE Online INSTANT Home Valuation Estimator

Let’s look at 2016 statistics as they are often an indicator of what you can expect:

  • Average Days on Market in McLean: 90 (slightly slower than 85 days in 2015)
  • Sold Price as % of Original List Price: 93.2% (slight up from 92.3% in 2015)
  • Percent of Homes Sold in 10 Days or Less: 25% (down from 27% in 2015)
  • Average Sold Price: $1,034,826 (up 2.9% from $1,005,557 in 2015)
  • Number of Home Sales: 845 (up 9% from 774  in 2015)
  • More McLean Real Estate Market Stats

BUYERS:

Current housing supply in McLean is 4.7 months. This translates to neither a “Seller’s Market” or a “Buyer’s Market”, and actually puts McLean in a Balanced Market. (Be aware that number is for the market as a whole. If you are buying, you’ll need to ask for an analysis of the price range you’re looking in as some price ranges may actually have much more or much less inventory.) Either way, with 25% of the homes selling in 10 days or less – you need all the advantages you can get. Belt Team Buyers are eligible for our FREE Priority Notification List for new listings not yet in the MLS. Call 703-242-3975 for details.

SELLERS: 

Terry Belt, CEO of The Belt Team commented, “Every year, we see competition for the best listings in the market. Often times, those who sell in January/February sell for more than those who wait for the traditional “Spring Market”. In 2017, we especially think this will bear out as we are already seeing interest rates rise, pricing some folks out of the market. Time will tell as to what 2017 has in store, but The Belt Team is already working with a large number of Buyers and Sellers around Northern VA and we expect the market to start out briskly.”

If you’re selling a home, your next question may be – “Is there a way to sell faster and for more than average?” And the good news is YES!

The best way to do that is to hire a real estate team with an amazing track record of success.  And THAT is The Belt Team.

If you’re wondering whether all Realtors are the same, they’re not. Different real estate teams not only provide different experiences, but vastly different results. Who you choose to represent you can mean the difference of whether you get the house you want to buy and how much money you make when you sell – things that affect YOUR family’s lives forever.

Did you know there are more than 10,000 Realtors in Northern VA? The average agent sold 4 homes last year. The Belt Team sold 82! Our agents each averaged FOUR TIMES as many sales. If you were having surgery on your broken arm, would you want the orthopedist who did 82 surgeries last year or 4?

You can read what 154 of our clients had to say about us on Zillow.

Call The Belt Team at (703) 242-3975 if you would like to buy or sell a home in McLean. We are part owners of McLean’s #1 real estate office – Keller Williams Realty. And we sell more homes than any other single standing office in all of Fairfax County. We know the schools, the parks, the commuter short cuts, the history, the shopping, the recreation options and all the things that make McLean a most special place to live. Not only do we sell homes in McLean, but with genuine enthusiasm & experience, we sell the entire community.

 Don’y you deserve the BEST Realtors in McLean?

Top Realtor Vienna VA

1400 Romeo Ct, McLean, VA 22102 – Listed by The Belt Team & Open Sunday April 17

1400 Romeo Ct McLean VA 22102 in popular McLean Hamlet is listed by The Belt Team and will be OPEN SUNDAY April 17 from 2-4PM. Here’s a sneak peek!

Call  Tom Reilly & The Belt Team at (703) 629-1263 to schedule a showing!

This immaculate colonial shows like a model home and has all the features buyers desire – a spacious floor plan featuring three finished levels; renovated gourmet kitchen with gas cooking, granite counters, and a butler’s pantry as a bonus; a master bedroom suite with walk-in closet and separate bath; a private rear yard with decks off the main and lower levels; sited on a quiet cul-de-sac; located in McLean Hamlet – one of the most desirable neighborhoods in McLean, served by top rated schools, and so much more!

Homes For Sale McLean Hamlet Homes For Sale McLean Hamlet

1400 Romeo Ct, McLean, VA 22102 – Listed by The Belt Team & Open Sunday April 3

1400 Romeo Ct McLean VA 22102 in popular McLean Hamlet is listed by The Belt Team and will be OPEN SUNDAY April 3 from 2-4PM. Here’s a sneak peek!

Call  Tom Reilly & The Belt Team at (703) 629-1263 to schedule a showing!

This immaculate colonial shows like a model home and has all the features buyers desire – a spacious floor plan featuring three finished levels; renovated gourmet kitchen with gas cooking, granite counters, and a butler’s pantry as a bonus; a master bedroom suite with walk-in closet and separate bath; a private rear yard with decks off the main and lower levels; sited on a quiet cul-de-sac; located in McLean Hamlet – one of the most desirable neighborhoods in McLean, served by top rated schools, and so much more!

Homes For Sale McLean Hamlet

McLean Virginia: How Long To Sell Your Home and Are Prices Rising?

If you’re looking to buy or sell real estate in McLean, VA in 2016, you may be wondering how long homes are on the market and whether prices are up or down.

First, let’s look at what happened in 2014:

  • Average Days on Market: 86 days (up from 64 days in 2014 and 72 days in 2013)
  • Average Sold Price: $1,004,378 (down from $1,054,174 in 2014 and $1,094,034 in 2013)
  • Average Sold Price as % of List Price: 92.3% (down from 95.7% in 2014 and 96.8% in 2013)
  • Percent of Homes Sold in 10 Days or Less: 27% (down from 35% in 2014)

Now, to get an even better sense of what’s happening in the real estate market, go to our web site for up-to-date McLean VA housing stats on the most recent month as compared to the five year average. This will indicate what the current trends are.

(Special Info For Sellers of Million Dollar Homes)

Call The Belt Team at (703) 242-3975 if you would like to buy or sell in McLean, VA.

6395 Stagg Ct Springfield, VA 22150 – Just Listed by The Belt Team (TH in Greenwood!)

6395 Stagg Ct Springfield, VA 22150 has just been listed by The Belt Team. Here’s a sneak peek!

Call Martin Bristow & The Belt Team at (703) 861-2967 to schedule a showing!

This charming, light-filled townhome is in the sought after community of Greenwood. An ideal location for commuters & close to many amenities…the Springfield Metro is a short walk away or hop on the free community shuttle! Features of this 3 bedroom/2.5 bath home include 3 finished levels, a separate dining room, kitchen with breakfast nook, a walk-out lower level with a rec room & den/office (could be used as 4th bedroom), a back deck & fenced–in lower patio, and 2 assigned parking spaces

Townhouses for sale Springfield VA

1400 Romeo Ct, McLean, VA 22102 – Just Listed by The Belt Team in McLean Hamlet

1400 Romeo Ct McLean VA 22102 has just been listed by The Belt Team. Here’s a sneak peek!

Call  Tom Reilly & The Belt Team at (703) 629-1263 to schedule a showing!

This immaculate colonial shows like a model home and has all the features buyers desire – a spacious floor plan featuring three finished levels; renovated gourmet kitchen with gas cooking, granite counters, and a butler’s pantry as a bonus; a master bedroom suite with walk-in closet and separate bath; a private rear yard with decks off the main and lower levels; sited on a quiet cul-de-sac; located in McLean Hamlet – one of the most desirable neighborhoods in McLean, served by top rated schools, and so much more!

Homes For Sale McLean Hamlet

Where Are Home Values Headed?

Keeping Current Matters” has provided us with some excellent information about where home values are headed. Whether you’re thinking of buying or selling a home in Northern VA – you’ll want to check what they had to say:
Home Values Going Up KCM

“Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey.

Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.

The results of their latest survey

  • Home values will appreciate by 4.1% in 2015.
  • The cumulative appreciation will be 18.1% by 2019.
  • That means the average annual appreciation will be 3.4% over the next 5 years.
  • Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of 10.5% by 2019.

Individual opinions make headlines. We believe the survey is a fairer depiction of future values.”

FREE INSTANT Online Home Valuation

———————————————————————————————————————————–In addition to the info from Pulsenomics, we also know the government has indicated it likely that interest rates will rise. In fact, we have seen the FHLMC 30 year rate rise already from 3.84% in May to 4% in June and 4.09% in July. In light of the urgency to buy now, we are holding a special MILLENNIAL EDITION of our “Kiss Your Landlord Goodbye” Seminar.

Homebuyer Seminars Northern VA

Today is a great time to enter the real estate market!  Why throw money away on rent when you can be your own landlord? Freedom rocks. And so does putting money in your OWN pocket instead of your landlord’s!  

Mortgage rates are low (for now!) and you may even be able to pay less by owning than renting. Not sure how the process works? We’ve gathered these local experts to share their knowledge with you:

  • Aaron Gagnon, Loan Officer, Apple Federal Credit Union
  • Brad Pace, Loan Officer, EverBank
  • Chris Melnick, Owner, Double Eagle Title
  • Several local millennials who recently bought their first home
  • The Belt Team, nationally recognized Top 100 Team with Keller Williams Realty

Next Class Scheduled: Sept 30th 6:30-8PM in McLean

Register at: www.TheBeltTeam.com/Classes  (Register FREE before 9/10)

Parents: Are YOU your adult child’s landlord? Send them to our class. Invest in their future!

Here are some of the topics we will discuss:

  • Could I actually pay less by owning than renting?
  • How much money do I need?
  • Do I qualify for a mortgage?
  • What would my payment be?
  • Mistakes to avoid.
  • What about inspections?
  • Search tips & tricks.
  • Best apps to use.

Questions? Call Terry Belt & The Belt Team at (703) 242-3975

McLean Virginia: How Long To Sell Your Home and Are Prices Rising?

If you’re looking to buy or sell real estate in McLean, VA in 2015, you may be wondering how long homes are on the market and whether prices are up or down.

First, let’s look at what happened in 2014:

  • Average Days on Market: 64 days (down from 72 days from 2013)
  • Average Sold Price: $1,054,174 (down from $1,094,034 in 2013)
  • Average Sold Price as % of List Price: 95.7% (down from 96.8% in 2013)
  • Percent of Homes Sold in 10 Days or Less: 35%

Now, to get an even better sense of what’s happening in the real estate market, go to our web site for up-to-date McLean VA housing stats on the most recent month as compared to the five year average. This will indicate what the current trends are.

(Special Info For Sellers of Million Dollar Homes)

Call The Belt Team at (703) 242-3975 if you would like to buy or sell in McLean, VA.

Home Sales Down, Real Estate Prices Up in Most of Northern VA

Northern VA Real Estate

A year-over-year comparison for home prices in Northern Virginia (for homes that sold Jan 1 thru June 16) shows several trends for most of Northern Virginia:

Number of Home Sales:

The number of home sales is down in almost every area of Northern VA. Burke & Dunn Loring home sales remained stable. In Springfield, home sales increased 4% this year – from 522 sales to 543 sales. However, in every other city, home sales fell. The most extreme drop in sales occurred in Great Falls, where home sales dropped 43% (from 122 sales to 70 sales).

Average Sales Price:

With three exceptions, home sale prices increased in every city in Northern Virginia. One area (Burke) remained almost stable. And two areas (Mclean and Great Falls) saw prices fall. Note that McLean and Great Falls are also the only two Northern Virginia areas where the average home price exceeded $1 million. The areas seeing the highest rise in values year over year were Herndon (6.9%), Vienna (8.4%), Chantilly (9.2%) and Dunn Loring (10.4%).

If you’re buying or selling a home, it’s imperative you know the market trends not just in YOUR city – but also your school district and neighborhood.

This will help guide your pricing strategy. Statistics are not the ONLY guide to pricing, but are an important piece of the puzzle – whether you’re a Seller deciding on where to price your home for market – or a Buyer deciding whether to offer above or below list price.

Here are specific stats for each area of Northern Virginia.

Northern VA 2013 Sales 2014 Sales Yr Over Yr Avg SP 2013 Avg SP 2014 Yr Over Yr
Alexandria 2244 2005 -11% $479,250 $498,618 4%
Arlington 1309 1174 -10% $598,657 $609,025 1.7%
Ashburn 734 593 -19% $476,335 $478,629 0.5%
Burke 255 255 0% $440,717 $439,585 -0.3%
Centreville 436 387 -11% $377,711 $379,598 0.5%
Chantilly 335 309 -8% $439,383 $479,623 9.2%
Dunn Loring 8 8 0% $761,688 $840,563 10.4%
Fairfax 962 810 -16% $484,174 $495,857 2.4%
Falls Church 646 556 -14% $486,779 $507,063 4.2%
Great Falls 122 70 -43% $1,228,030 $1,160,466 -5.5%
Herndon 366 310 -15% $452,807 $483,955 6.9%
McLean 338 281 -17% $1,067,027 $1,002,964 -6.0%
Oakton 163 105 -36% $624,298 $633,566 1.5%
Reston 509 444 -13% $447,494 $458,481 2.5%
Springfield 522 543 4% $426,240 $444,782 4.4%
Sterling 498 484 -3% $377,291 $388,738 3.0%
Vienna 373 325 -13% $734,102 $796,107 8.4%

Call (703) 242-3975 if you would like a zip code, school district or neighborhood analysis.

FREE Instant Online Home Valuation

Our New State-of-the-Art Home Search Site

The Belt Team’s Mission Statement is “Changing Lives For The Better” – if it’s time to change YOURS, call (703) 242-3975 or email The Belt Team and let us know how we can help!

Best Realtor Northern Virginia

Real Estate Prices Continue To Rise in MOST of Northern VA

Northern VA Real Estate

A year-over-year comparison for home prices in Northern Virginia (for homes that sold Jan 1 thru April 30th) shows there are only a few areas left where home prices did not rise over last year.

McLean

Although sales were down 10% in 2014 vs 2013, the average home price of homes sold also fell 13%. This means Buyers in certain price points MAY be able to get a deal! The caveat to this is that home sales varied from as low as $215,000 to as high as $3,400,000 so far this year. The lower the price point, the less likely you are to get a deal and you probably will still be competing.

Dunn Loring

Sales were up 33%. But the average price of a home sold fell 7%. However, Dunn Loring is a statistical anomaly. With only 3-4 sales during the Jan-April timeframe each year, you cannot truly chart this as a falling market.

Burke

Burke “technically” makes it onto the list of areas where home prices did not rise year-over-year. Prices went down .1%. (That’s “point one percent – NOT one percent). Sales actually rose in Burke this year. We’ll be keeping our eye on this area to see what transpires over the rest of the Spring.

Other than McLean, Dunn Loring & Burke – every other area’s prices rose from last year!

Most areas rose somewhere less than 5%, while two areas showed price increases of more than 7%. Arlington, Ashburn, Centreville, Fairfax, Falls Church, Herndon, Sterling & Vienna – all fall into the first category. While Oakton & Springfield fall into the latter.

If you’re buying or selling a home, it’s imperative you know the market trends not just in YOUR city – but also your school district and neighborhood. This will help guide your pricing strategy. Statistics are not the ONLY guide to pricing, but are an important piece of the puzzle – whether you’re a Seller deciding on where to price your home for market – or a Buyer deciding whether to offer above or below list price.

Here are general stats for Northern Virginia.

Call (703) 242-3975 if you would like a zip code, school district or neighborhood analysis.

FREE Instant Online Home Valuation

Our New State-of-the-Art Home Search Site

Northern VA 2013 Sales 2014 Sales Yr Over Yr Avg SP 2013 Avg SP 2014 Yr Over Yr
Alexandria 1420 1306 -8% $467,712 $496,433 6%
Arlington 839 751 -10% $582,945 $586,994 0.7%
Ashburn 477 396 -17% $468,098 $472,508 0.9%
Burke 153 167 9% $427,016 $426,518 -0.1%
Centreville 266 271 2% $362,482 $376,142 3.8%
Chantilly 229 218 -5% $429,903 $465,667 8.3%
Dunn Loring 3 4 33% $897,333 $834,000 -7.1%
Fairfax 620 534 -14% $474,712 $487,474 2.7%
Falls Church 407 369 -9% $465,892 $486,850 4.5%
Great Falls 78 44 -44% $1,213,930 $1,203,783 -0.8%
Herndon 214 197 -8% $437,149 $458,407 4.9%
McLean 217 195 -10% $1,071,602 $933,403 -12.9%
Oakton 93 69 -26% $571,826 $612,194 7.1%
Reston 301 298 -1% $432,459 $455,443 5.3%
Springfield 318 344 8% $404,473 $436,536 7.9%
Sterling 302 310 3% $362,709 $380,380 4.9%
Vienna 236 210 -11% $731,906 $746,379 2.0%

The Belt Team’s Mission Statement is “Changing Lives For The Better” – if it’s time to change YOURS, call (703) 242-3975 or email The Belt Team and let us know how we can help!