05-01-10 = Gates of McLean Real Estate on the Market

Right now at the Gates of McLean in Tysons Corner, there are 6 McLean Homes on the market. 5 of those are for rent, while the other 1 is for sale.

Gates of McLean Real Estate (Sales)
Actively on the market there is a One bedroom One bathroom "Shannon" Model in building 1581 on the first floor, asking $275,000. This home has been on the market for 102 days.

Also regarding Gates of McLean home sales, there are 6 properties currently under contract. They are evenly split between 1 bedroom homes and 2 bedroom homes. Asking prices were ranging from $195,000 (short sale) to $229,900 for the Gates of McLean 1 bedroom properties at time of contract. While the Gates of McLean 2 bedrooms ranged from $250,000 (short sale) to $339,888. The Gates of McLean models under contract are = Kendall, Danielle, Shannon, Logan, Preston, and Dalton.

There is definately some good demand right now in the Gates of Mclean, as those properties that are going under contract are doing so relatively quickly. The low interest rates, and tax credit could be factors in this. However, the dominant factor for the Tysons Corner Real Estate sales in the Gates of McLean is probably the proximity to the future metro stop for the Silver Line. There is growing excitement and anticipation now since construction is strongly udner way.

Gates of McLean Real Estate (Rentals)
The 5 properties for rent in this Tysons Corner community are composed of three 1 bedrooms and two 2 bedrooms. All three of the Gates of McLean 1 bedroom rentals are asking $1350 for a monthly rent. While the Gates of McLean 2 bedrooms range from $1,795 to $1,800 for a monthly rent.

There are currently 2 properties in the Gates of McLean that are Application Registered status. One is a 1 bedroom, Danielle model, and the other is a 2 bedroom, Dalton model. At time of application they were asking $1,400/month and $1,700/month respectively.

For more information on Tysons Corner Real Estate and other Tysons Corner Area (McLean + Vienna) goings on also check out = www.AgentKnowsTysonsCorner.com

data from MRIS

1st Quarter 2009 Home Sales re-cap

What happened in the first quarter of 2009 in the Gates of McLean? The good news is that there were 4 SOLD properties. Those properties were actively on the market an average of 53 days, and they sold for an average of -5.42% (that minus in front means negative). There was also an average of $500 seller subsidy (also referred to as closing cost help from seller to buyer).

What types of sales were these 4 transactions?

Regular Sale = 2

Short Sale = 0

Bank Owned Property = 2

What style homes were these 4 properties?

1 Bedroom = 1 (Danielle)

2 Bedroom = 2 (Logan + Dalton)

3 Bedroom = 1 (Christine Model)

How does this compare to the same time last year?

Last year there were only 3 properties sold in the same time period. And they sold for an average of -6.5% (yes, also negative) of their list price, in an average of 85 days on the market. They also had an average of $1333.33 in seller subsidy. So you could say that things are picking up considering the same time comparison to last year. Let's hope that trend continues!

Below is a graphic of the sold properties I've mentioned, plus those that did not sell, and those that are under contract, or for sale right now at the Gates of McLean.

(Data is from MRIS and represents multiple listings from multiple brokers)

2 Sold and Settled in February (09)

The Gates of McLean had 2 properties that Sold in February of 2009. That's a 100% increase vs. the 1 of the same month last year (08). So, definately good news on increasing transactions.

The properties themselves were very different. One was a 3 bedroom, Christine model, in building 1530. It was located on the 2nd floor. That property was asking $374,900 and ending up settling for $354,750. It was a cash transaction.

The other property that sold was a one bedroom, Danielle model, which is the largest you'll find in a secure building(1581). This property was also on the 2nd floor. The property was a bank owned property, also referred to as an REO. It was asking $199,900 and settled for $195,000. It sold rather quickly, being on the market only 23 days.

(data from MRIS)