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

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