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Welcome to The Stillwell Group Market Update. I’m Lee Stillwell.
If you’re considering buying or selling residential real estate, it’s essential to understand the current market trends.
According to Bright MLS, the marketplace for McLean, VA residential properties, here’s what happened in October Vs September 2024:
The number of sold listings increased by 21% to 34 properties, with a top sale of $25.5 million at 700 Bulls Neck Rd
The Average Sales Price increased by 10% to $2.3million, and the Average Price Per Square Foot is $468
The inventory of properties available for sale is measured in months’ supply, and it decreased by 22% to 3.56 months’ worth of properties for sale.
The 30-year fixed mortgage rate is at an average rate of 6.2%, according to Freddiemac.com
If you’re thinking about buying or selling residential real estate now or in the near future, it’s essential to seek the guidance and advice of a professional real estate agent.
Thanks for tuning in. We’ll see you at the next Stillwell Group Market Update.
