Gates of McLean - December (2008) Recap

What happened in the Gates of McLean in December of 2008? Well in terms of Real Estate, here's a recap:

There was 1 SOLD property, and 0 (zero) properties that RENTED.

The property that SOLD was a 2 bedroom 2 bathroom Preston model. This is the biggest 2 bedroom in the mid-rise buildings (see earlier blog if not sure about mid-rise vs. garden style building). This home sold for $$317,000 with a subsidy of $8,000. So an effective net price to the seller of $309,000. Coincidentally this was a bank owned property.

The lack of rental activity is not suprising. December is one of the most unappealing months to move, as people don't often like to move: a) during the winter, or b) close to the holidays. One would think that in a community of so many homes, and 40+ being rented each year, that there would be at least one rented in December. However, in the same month last year, 2007, there were also 0 (zero) RENTED properties.

(data from MRIS)

What happened last month at the Gates

November, a month for Thanksgiving and real estate sales. Well one property at the Gates of McLean sold. It was a two bedroom two bathroom home in a mid-rise building. This property Sold for $350,000 and gave back a closing cost credit to the buyer of $5,000. The property was on the market a paltry 9 days.

The rental market fared slightly better than the Gates resale market in November. There were 3 properties that Rented in November. One was a 3 bedroom, renting for $1850 in 21 days on the market. Both of the other properties that rented were 2 bedroom 2 bathroom homes. They rented at an average of $1750 and in an average of 17 days on the market.

Overall not a ton of activity. But what activity that did occur happened at a very good pace.

(Data taken from MRIS)

September Sales/Rental Stats

The weather is getting colder, and so is the pace of real estate.

See the September statistics below:

1 home SOLD in September at The Gates of McLean

- One 1 Bedrooms
--> SOLD Price = $225,000
--> Model SOLD = Danielle

- Zero 2 Bedrooms

- ZERO 3 Bedrooms

RENTALS:

3 homes RENTED in the month of September

- One1 Bedroom
--> RENTED Price = $1300/month

- Two 2 Bedrooms
--> High RENTED Price = $1800/month
--> Low RENTED Price = $1700/month
--> Average RENTED Price = $1750/month

- Zero 3 Bedroom

CLICK HERE --> For more Stats and Downloadable Gates of McLean information

Information gathered from the MRIS. Information is deemed reliable, but not accurate.