Great news for McLean Hamlet home owners! The home at 8113 Birnam Wood Drive has sold for $1,1600,000. The sale price should move the price point higher for home sales in the McLean Hamlet, as this home lacked renovations that most high priced homes feature. The home featured hardwood floors throughout and large room sizes, but it had not been renovated in key rooms such as the kitchen or master suite. As a matter of fact, this home had many original elements in it, an unfinished basement, dated kitchen cabinets, bathroom floors of inch colored tile, and wallpaper in the two-story foyer. Many recent homes sold in the Hamlet at this price feature new kitchens with top of the line appliances, fine cabinetry, and granite counters, or master suites that have been renovated with tile and glass enclosed steam-showers, and master closets with built in shelves and drawers. Yet, the buyers of this home paid above list price and were represented by a buyer broker experienced in the neighborhood, so indications are strong for prices to trend upward in the Hamlet.
The McLean Hamlet was a sought after location for home buyers in 2018. Demand for homes in the neighborhood remained strong, prices remained high, for the most part, and as a result homes often sold quickly and near or above the seller’s list price.
The average sale price of $956,143 in the McLean Hamlet in 2018 was not a record, but it was close to the record high set in 2017. An interesting statistic for the year was that the higher priced homes sold faster than the lower priced homes. A strong statement about the condition and location of a home and how the market responds. Buyers purchase homes in updated condition faster than ones that need work. The following chart illustrates this fact, as homes priced above $1,000,000, shown on the far right column, were on the market the fewest number of days before selling.
A chronological list of the homes sales is provided below, starting with the most recent home sold at the end of the year.
If you have an interest in living in the McLean Hamlet, or you own a home in the Hamlet and are thinking of selling in the future, contact me for a consultation.
8113 Birnam Wood Drive, which has been under renovation for several months, has been listed as “Coming Soon” and will be active for sale this weekend. An open house will be held on Sunday, December 9 from 2-4 PM. The list price is $1,149,000, and the listing broker, Long & Foster of Ashburn, states that there are 4 bedrooms, 4 full and 1 half bathroom. The location is outstanding, with the school and swim club located nearby.
The sale of 8019 Birnam Wood Drive in the McLean Hamlet closed on October 31. The home, listed for $1,199,000, on August 30, sold for $1,100,000. It was on the market for 19 days before receiving a contract.
Do you want to purchase a home in the McLean Hamlet? The inventory of good homes has been low for the past few months, and a listing agent shared information with me about a home that will be on the market soon. If you are ready to buy, contact me now.
The price of closed home sales dipped in the third quarter in the McLean Hamlet. The average home sale price in the neighborhood for the most recent quarter was $897,500, compared to $966,000 in the second quarter of the year. This information is based upon data provided by MRIS, the local multiple listing service to which I subscribe. The average sale price in the 22102 zip code for the third quarter was $1,529,000.
Contact me directly for a full list of closed sales and other statistics for this local market.
A new listing in the McLean Hamlet, priced at $935,000.
An expanded split foyer home at 8003 Lewinsville Road has been listed for sale for $935,000, in the McLean Hamlet. The home features 5 bedrooms, and 3 full bathrooms, and includes an addition built on the back of the home that provides extra living space. The home is listed by Washington Fine Properties.