The Long & Foster Market Minute

Focus On: Eastern McLean Housing Market June 2021

Zip Code(s): 22101
Units Sold
70
Active Inventory
97
Median Sale Price
$1,272,500
Days On Market
29
Up
Vs. Year Ago
Down -34%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -33%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 70 sold this month in Eastern McLean Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 50 units or 34%. The total number of active inventory this June was 97 compared to 147 in June 2020. This month's total of 97 is lower than the previous month's total supply of available inventory of 105, a decrease of 8%.

Median Sale Price
Last June, the median sale price for Eastern McLean Homes was $1,175,000. This June, the median sale price was $1,272,500, an increase of 8% or $97,500 compared to last year. The current median sold price is 17% lower than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
78
Current Contracts
64
Sold Vs. List Price
98.9%
Months of Supply
1.4
No Change
Vs. Year Ago
Up 7%
Vs. Year Ago
Up 2.1%
Vs. Year Ago
Down -58%
Vs. Year Ago

Months of Supply
In June, there was 1.4 months of supply available in Eastern McLean, compared to 3.3 in June 2020. That is a decrease of 59% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 78 homes newly listed for sale in Eastern McLean, which is similar to the amount in June 2020. There were 64 current contracts pending sale this June compared to 60 a year ago. The number of current contracts is 7% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Eastern McLean was 98.9% of the average list price, which is 2.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 29, lower than the average last year, which was 43, a decrease of 33%.

The Long & Foster Market Minute Eastern McLean are defined as properties listed in zip code/s 22101.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.