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Summary
The McLean detached-home market remained strong in August, particularly when it came to home values. The median sold price reached $2,500,000, up 4.2% from July and an impressive 19% compared with August 2025.
Homes are taking longer to sell, however. Properties that closed in August spent an average of 55 days on the market, which is 34% longer than the five-year August average of 41 days. This suggests buyers are being more selective, especially at higher price points.
Buyer activity remained relatively steady. There were 31 new pending contracts, unchanged from July, while total pending contracts decreased slightly by 2.2% to 45. At the same time, available inventory declined 6.2% to 121 active listings. With fewer homes available and contract activity holding fairly steady, supply and demand continue to provide support for home values.
The Contract Ratio increased slightly to 0.37, up from 0.36 in July and significantly higher than 0.27 in August 2025. It was also 6% above the five-year August average of 0.35, indicating that buyer activity is relatively strong compared with the number of homes available.
What This Means for Buyers and Sellers
Overall, McLean continues to show strong pricing and healthy demand, but buyers are taking more time before making decisions. The 19% year-over-year increase in the median sold price is a positive sign for sellers, while longer market times show that buyers are not simply purchasing anything that becomes available.
For sellers, pricing, condition, and presentation are especially important. Well-positioned homes can still attract serious buyers, but overpriced properties may sit on the market longer. For buyers, longer market times may create opportunities to negotiate, particularly on homes that have been available for several weeks or need updating.
