7811 Lewinsville Road Sold for $740,000

The home at 7811 Lewinsville Road has sold for $740,000.  This price is considerably lower than most McLean Hamlet sales as discussed further below.  The price seems to reflect the fact that the home was sold in as-is condition, and is located on a particularly busy stretch of road at the intersection of Lewinsville Road with Swinks Mill and Old Falls Roads. The photo above shows typical automobile traffic at the intersection.

What effect does being located on Lewinsville Road have on a home price?  Two homes have been listed and sold on Lewinsville Road this year. They sold for $740,000 and $785,000 respectively.  The average sale price of the 20 homes sold year to date in the McLean Hamlet, when these two homes on Lewinsville are excluded from the calculation is $971,000. However, when they are included the saver sale price is $950,000. These statistics, do not take condition of the home into account, but show that a sale price may be lower when a home is situated on Lewinsville Road.  By comparison, homes sold in as-is condition inside the neighborhood have sold at $875,000 and $900,000.

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