MRIS July Sales Report: Zip Code 22101

Today I analyze July's sales for zip code 22101 using data provided by MRIS and RBI. 22101 is bordered by the Potomac River, I-495, 267, and Kirby Road. We'd tell you it's home to the CIA, but we can't. But we can tell you it's home to McLean, VA.

Thirty-seven units sold in 22101 in July 2011. Key points in July's data:

• Aggregate dollar volume was down 15.91% over the same month in 2010. Unit sales were 7.5% lower.  The average price for a home fell 9.09% and the median price was down 7.81%. 
• No condos were sold. Thirty-seven houses were sold for an average price of $942,293, down 9.09%.
• The houses sold in 22101 are large - 31 of 37 houses sold had 4 or more bedrooms. Those large houses experienced a 10.38% drop in average price in July 2011.
• For the past twelve months, detached housing has dominated sales in 22101. The average monthly sales volume has been 26 detached houses, 3 townhouses, and 1 condo sold per month.

There were 165 active listings during July, 8 condos and 157 houses. The list prices for condos topped out at $2.5M, but half were in the $200-300K price range. Generally, house prices were in the $500K-infinity price range, with almost half in the $1-2.5M price range.

According to MRIS, properties in 22101 sold for 95.2% of the listing price, almost flat compared to 2010. At July's sales rate, there's a 4.24 months supply of houses and they're selling fast - average days on market fell by a third from July 2010 to 61 days. Looking ahead, 23 homes went under contract in July and another 30 went under a contingent contract.


My good friends at Urban Turf published a version of this post on their site a few days ago.

Detailed Data for the Month

Average Sales Price

Dollar Volume

Transaction Volume

Monthly Data for the Past Year (by Housing Type)

Units Sold

Median Sales Price

Average Sales Price

Average Sales Price by Number of Bedrooms