3rd Quarter Average Sale Price Drops in the McLean Hamlet

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.

8003 Lewinsville Road Listed for Sale

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.

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.

By the way, I would like to thank you for reading the McLean Hamlet Real Estate News and Information blog. I would enjoy hearing your feedback. Click on the link on the right side of this screen to contact me directly, or give me a call.

Two Hamlet Homes Priced at $950,000

This morning two homes are now for sale in the McLean Hamlet with the same list price of $950,000.  This price is below the average sale price in recent years so expect action quickly on these homes.

1354 Snow Meadow Lane is a new listing.  It is a four bedroom, two full and one half bath home built in 1979.  Many updates are noted in the listing, which is listed by Fass Results LLC. The home is open on Thursday from 4-6 pm and Sunday from 2-4 pm.

1324 Titania Lane is now priced at $950,000 after being listed for sale on August 11 for $999,000.  This home is listed for sale in “as-is” condition, and notes that there is room for improvement by a new owner.

Hamlet Sales Activity

Three homes for sale and one under contract in the McLean Hamlet, September 2018

The home at 7811 Lewinsville Road, shown above, received a contract and is scheduled to close before the end of September. The home, located at the intersection of Lewinsville and Swinks Mill Roads, was listed for $775,000. This price was reflective of the location on the busy commuter road that borders the McLean Hamlet.

8019 Birnam Wood
8019 Birnam Wood Dr.

Three homes are currently listed for sale in the neighborhood.  8019 Birnam Wood Road is the most recent home to hit the market, listed for $1,199,000 on August 30.

 

 

Also currently on the market is 1324 Titania Lane, listed on August 11, for $999,000.  This home is being sold in as-is condition, and the listing indicates that the home needs improvement but has potentia.l.

1325 Cordelia
1325 Cordelia Ct

Of the homes available for sale in the McLean Hamlet, 1325 Cordelia Court has been on the market the longest. It was listed on May 31, at a price of $1,400,000, with no price adjustments since it was listed.