In the month of November, just finished, there was one property SOLD and SETTLED in the Tysons Corner Condominium community the Fountains at McLean. The property was a 1 bedroom 1 bathroom 626 square foot Elm model. The property was on the market 7 days and it sold for $225,000. There was no subsidy (closing cost credit from seller to buyer) involved in the transaction. The property was not listed as being a distress situation (foreclosure or short sale). So based on this transaction, November 2009 had the Fountains at $359/square foot. Extremely uniqure was that this property did include 2 garage parking spaces.
Comparing year over year for same month sales activity we find that November 2008 had a similar level of sales. There was also one property sold in the Foutains in November 2008. The one property sold then was also a 1 bedroom in a gated mid-rise building. This property was larger, at 689 square feet. And it sold for $230,000 after being on the market 189 days. The price per square foot at that time was $334.
There is currently one property under contract at the Fountains. It is a 1 bedroom 1 bathroom, Pine model, short sale that was listed for $184,900 at time of contract.
There is only one property available for sale at the moment. It is a 2 bedroom 2 bathroom, Oak model, that has been on the market for 20 days. The property is currently listed at $325,000. It is not described as a short sale, foreclosure, or other distress situation.
There is a lot of demand in the market right now, and the Fountains at McLean, just like many other Tysons Corner, McLean + Vienna area communities, could use more good inventory on the market.
Data from MRIS
