As the year winds down, UrbanTurf is taking a final look at the neighborhood housing markets around the DC region. Today, we head to McLean, the priciest market in the area.
Earlier this week, UrbanTurf reported on the most expensive home sales in the region and the top three were in McLean, an indication of prices in the 22101 zip code. The median home price in 2020 was almost $1.3 million, the highest in the region for a zip code, but sales still remained on par with 2019. Competition has never been very high in McLean, but it is growing: the contract ratio for the zip code in October rose 42% compared to last year.
Below, UrbanTurf plucked out a few more statistics about the McLean market.
- $1,288,750 -- The median home sales price in McLean in 2020, up 16% from last year.
- $1,575,840 -- The average price for a detached home with four or more bedrooms, up 8% from last year.
- $45 million -- The final sales price for a home in McLean this year, the highest on record for the area.
- 0.52 -- The contract ratio for McLean in October, up 42% from last year.
- 22 -- The median number of days that homes spent on the market in the third quarter.
Photo courtesy of Sean Shanahan.
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This article originally published at https://dc.urbanturf.com/articles/blog/the-mclean-housing-market-by-the-numbers/17630.
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