MARKET REPORT

The McLean, Virginia Market Report

Explore the data and trends powering the residential real estate market in McLean, Virginia

MARKET REPORT

Key Insights

Explore key insights about the residential real estate market in McLean, Virginia for the year ending 2023

AVERAGE DAYS ON MARKET

29 Days

The average days on market for single family homes sold in McLean, Virginia

AVERAGE PRICE PER SQUARE FOOT

$596.52 Sq. Ft.

The average price per square foot of single family homes in McLean, Virginia

AVERAGE SALE PRICE

$2,103,986

The average sale price of single family homes in McLean, Virginia

THE HOMES COLLECTION

The Homes of McLean, Virginia

Explore a curated collection of the most iconic homes in McLean, Virginia

MARKET REPORT

The State of the Market

As we reflect on the year ending 2023, one thing is clear: homes in McLean, Virginia are in high demand.

Due to its desirable location inside the Capital Beltway in Northern Virginia, McLean, Virginia benefits from its convenience to downtown Washington, D.C. and major employment hub of nearby Tysons, Virginia.

Among the most prosperous communities in the United States, with an average household income of over xxx, McLean, Virginia is largely characterized by large homes in quiet, tree-lined neighborhood that are coveted by the region’s top business executives and political figures.

The most expensive home sold in McLean, Virginia for the year ending 2023 was a custom residence in the acclaimed Langley Farms neighborhood.

Located on Chain Bridge Road — just next door to the iconic Hickory Hill estate — the home features over 8,000 square feet of interior living space and nearly 2 acres of immaculately landscaped grounds. The home sold for $13,250,000 in June 2023 after 102 days on the market.

Just down the street on Langley Lane, a 12,861 square foot French Norman style residence built in 2010 by acclaimed custom home builder Galileo Signature sold in January 2023 for $10,800,000.

Another home on Chain Bridge Road which was recently re-imagined by award-winning residential architecture firm Randall Mars Architects sold in June 2023 for $5,425,000.

“McLean, Virginia is among the most desirable communities in Northern Virginia,” says Byron V. Hughey, Vice President at TTR Sotheby’s International Realty.

“Because of its unique history as an enclave for the region’s most powerful and influential leaders in business and society, McLean, Virginia has long been a place you aspire to be — an address that comes with a sense of accomplishment and prestige.”

For those seeking to purchase a single family home in McLean, Virginia, you can expect to pay an average of $596.52 per square foot and an average total sales price of $2,103,986. Single family homes in McLean, Virginia typically sell in 29 days.

For those seeking a new construction homes in Mclean, Virginia, options are available — with new construction representing 16% of all residential home sales — but come with a hefty price tag,

In McLean, Virginia, for the year ending 2023, the average sale price for a new construction single family home was $3.04 Million, while more modestly-sized new construction town homes sold for an average of $1.00 Million.

Among the most desirable communities in the United States, raw land in McLean, Virginia is scarce, with only 19 land sales recorded for the year ending 2023 and an average price per acre of $2.50 Million.

Byron V. Hughey, Vice President at TTR Sotheby’s International Realty.

PARTNER INSIGHT

“McLean, Virginia has long been a place you aspire to be — an address that comes with a sense of accomplishment and prestige.”

Byron V. Hughey, Vice President at TTR Sotheby’s International Realty

MARKET REPORT

The Top 10 Home Sales

Explore the top home sales in McLean, Virginia for the year ending 2023 courtesy of Bright MLS


1). 1163 Chain Bridge Road · 6.0 Bed · 7.0 Bath · 8,470 Sq. Ft. · $954.47 Sq. Ft. · $13,250,000 · View Map »


2). 1113 Langley Lane · 7.0 Bed · 7.0 Bath · 12,861 Sq. Ft. · $839.75 Sq. Ft. $10,800,000 · View Map »


3). 1015 Basil Road · 7.0 Bed · 9.0 Bath · 11,036 Sq. Ft. · $634.29 Sq. Ft. $7,000,000 · View Map »


4). 1332 McCay Lane · 6.0 Bed · 7.0 Bath · 9,068 Sq. Ft. · $788.73 Sq. Ft. · $7,000,000 · View Map »


5). 6455 Kedleston Court · 6. Bed · 6.0 Bath · 9,600 Sq. Ft. · $708.33 Sq. Ft. · $6,800,000 · View Map »


6). 7681 Ballestrade Court · 6.0 Bed · 6.0 Bath · 9,264 Sq. Ft. · $593.70 Sq. Ft. · $5,500,000 · View Map »


7). 8334 Alvord Street · 6.0 Bed · 9.0 Bath · 9,158 Sq. Ft. · $600.57 Sq. Ft. · $5,500,000 · View Map »


8). 1157 Chain Bridge Road · 4.0 Bed · 4.0 Bath · 3,539 Sq. Ft. · $1,532.92 Sq. Ft. · $5,425,000 · View Map »


9). 1937 Birch Road · 8.0 Bed · 7.0 Bath · 12,640 Sq. Ft. · $411.39 Sq. Ft. $5,200,000 · View Map »


10). 8119 Spring Hill Farm Drive · 8.0 Bed · 7.0 Bath · 6,800 Sq. Ft. · $750.00 Sq. Ft. · $5,100,000 · View Map »


THE RAPPAHANNOCK RIVER COMPANY

Find a Trusted Design Professional in McLean, Virginia

For those who seek the very best, The Rappahannock River Company can help you find the best design professional for the job.

Mid-Century Redux of Alexandria, Virginia. Image courtesy of Tod Connell.

MCLEAN, VIRGINIA

Randall Mars Architecs

Randall Mars Architects is a Residential Architecture firm in McLean, Virginia

Learn More »

Langley Farms Colonial of McLean, Virginia. Image courtesy of David Burroughs.

MCLEAN, VIRGINIA

Goffin Gardens

Goffin Gardens is a Landscape Design Firm in McLean, Virginia

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Refined Farmhouse of McLean, Virginia. Image courtesy of Anice Hoachlander.

MCLEAN, VIRGINIA

Tracy Morris Design

Tracy Morris Design is an Interior Design firm in McLean, Virginia

Learn More »

MARKET REPORT

Frequently Asked Questions

Browse frequently asked questions about our industry research, data, and reporting methodologies

HOW DO I GET ACCESS TO YOUR INDUSTRY RESEARCH?

Raw market data is available for free to members of our Partner Network. Additionally, you may purchase individual reports for a one time fee of $99.95.

WHAT KIND OF DATA IS INCLUDED IN YOUR INDUSTRY RESEARCH?

Industry research and reports include a variety of data, including anecdotes regarding the business of new home construction from industry professionals, as well as a complete list and data set of all new construction homes in the market.

HOW DO I SPONSOR YOUR INDUSTRY REPORTS?

Market data and research may be sponsored upon request by qualified design professionals. To learn more, please contact partners@rappahannock.co.

WHAT CRITERIA IS USED TO ACQUIRE DATA FOR THE REPORT?

Sales data is acquired from closed sales records as published in Bright MLS. In addition, the report focuses only on single family homes — specifically those marked as fee simple transactions.

HOW DO YOU ACQUIRE DATA FOR YOUR REPORTS?

Data for our reports is acquired through a combination of public, private, and panel-based sources. For editorial content and insights, we survey residential architects, interior designers, landscape architects, and custom home builders with experience in the subject market.

HOW DO YOU DETERMINE YOUR KEY INSIGHTS ABOUT THE MARKET?

Key Insights focus on a specific segment of the housing market, specifically those that are single family homes, detached, and and designated as fee simple.

MARKET REPORT

Download the Complete Data Set

Learn more about the McLean, Virginia housing market. Download a CSV of complete sales data for only $99.95.