A large colonial model home in the McLean Hamlet was listed for sale on June 23. The listing states that there are 4 bedrooms and 2 full baths on the upper level, a full bathroom in the finished basement, and a powder room on the main level. The home is large, with the most finished square feet of any home listed for sale in the Hamlet in 2022.There are four open houses posted for this classic Hamlet model that features a sunroom addition and renovated kitchen and baths.
The property is listed by EXP Realty of Ashburn.
Completely renovated home in the McLean Hamlet
Long & Foster McLean has listed a property for sale in the McLean Hamlet. The home has been completely renovated since it was purchased off-market by the seller in April 2021. Note that the listing discloses that the listing agent at the brokerage is related to the seller.
1311 Elsinore Avenue is listed for $1,550,000, and will be on the market by June 17. It features five bedrooms, three full bathrooms, along with a half bath, on three finished levels with a walk out basement. This home has all of the updates that buyers like, a brand new kitchen with quartz counters, gas cooking, stainless steel appliances, and renovated bathrooms with all new fixtures.
Price Reduction Leads to Contract
The 2022 sales market in the McLean Hamlet has seen significant price increases, so it is somewhat surprising that a listing initially priced below the other homes would require a price reduction of $50,000 to draw interest from a buyer. The home at 1402 Gower Court, listed on May 13, 2022, for $1,000,000, received a contract on June 2, after a price reduction to $950,000.
Buyers keeping track of listings in the Hamlet are aware that homes sell fast, but this home had a couple of factors that left it on the market for 22 days. Location cannot be changed, and this home is located against the sound wall of the Dulles Toll Road, and also has high voltage electric transmission lines adjacent to the rear of the property. The condition of the home, a factor that was updated and renovated in other homes sold this year, was mostly original. Several rooms have wallpaper, shag carpeting, and the bathrooms with original fixtures.
In any case, this home may be a great purchase. The average sale price of McLean Hamlet homes sold to date is $1,418,000, and the median sale price is $1,400,000. This property provides an opportunity to get into a sought after neighborhood considerably below the market prices.
The home at 1320 Banquo Court, listed for $1,300,000 on March 23, 2022, has sold for $1,250,000. The property, listed by EXP Realty in Washington, DC, was on the market for 22 days.
Coming Soon in the McLean Hamlet for $1,199,000
The home at 1348 Macbeth Street has been listed for sale for a price of $1,199,000. It is currently listed as “Coming Soon” and is targeted to be on the market by June 8, 2022.
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Low inventory leads to a sale price of $1,651,000, as buyers continue to aggressively bid for homes.
Another McLean Hamlet home has sold for an amazing price after multiple offers were submitted. This home with 4 bedrooms and two full baths on the upper level, and an additional bedroom and full bath in the basement set a high price for 2022 sales in the neighborhood. It was listed for sale on April 21, for an asking price of $1,600,000.
An off-market transaction closed this week in the McLean Hamlet. The home at 7710 Falstaff Court sold for $1,550,000. This home underwent extensive renovation after it was purchased in October 2019, for $1,025,000. The recent sale price is a $525,000 increase in just 30 months.
This transaction was conducted as an office exclusive listing by EXP Realty of Ashburn. An office exclusive listing is one in which the seller requests that a listing not be entered into the MLS. Per the rules of BRIGHT MLS, an Office Exclusive listing cannot be marketed to anyone outside of the brokerage firm. This includes all communication beyond your brokerage firm, including one-to-one communication via email, web, social media, or text.
The low inventory of homes for sale and rising home prices is turning buyers into renters as seen with multiple rental applications received for 1330 Macbeth Street in the McLean Hamlet.
Multiple rental applications were received for this home that just underwent a major renovation. The home at 1330 Macbeth Street was rented for $5,000/month, for 27 months.
New sale listing to be available in April
The home at 1320 Banquo Court has been listed as Coming Soon, for sale at a price of $1,300,000. The listing by EXP Realty in Washington, DC, states that the home will be available on April 7.
The home sold most recently in February, 2018, for $850,000. That sale price was the below market as the home was undergoing renovations that were not complete when that sale was completed. The photo of the home in this post is from 2018.
McLean Hamlet home sale update: 7705 Lear Road sells for $1,240,000.
The sale of 7705 Lear Road, listed for sale on February 7, 2022, for $1,210,000, has closed. The home sold for $1,240,000. It was on the market for just 6 days before going under contract.