Times are exciting in Tysons Corner with new buildings and “town centers” popping up throughout the area. With the Silver Line metro completed many communities are finally within walking distance to the metro. Fountains at McLean is one of them.
After values struggled to recover after the 2006 “market correction” prices have been slowly working their way back up since then.
2017 and 2018 saw an increase in average sales prices at the Fountains at McLean after a few slow years. In 2018 two bedroom homes kept their upward trend while appreciation for one bedroom homes slowed a little.
Currently for Sale at the Fountains at McLean
In April 2018 a $7,000,000 special assessment was approved and assessed to each unit starting May 1, 2018. It can be paid in a lump sum or spread over 44 monthly installments. Per the association the total assessment is $13,024 for 1 bedroom units and $16,280 for 2 bedroom units. The assessment may pay for things like stair/landing replacements, window/sliding glass door replacements and misc other exterior maintenance items.
When purchasing a home in the community it is important to assess whether the seller intends to pay any outstanding assessment amount or if you as a buyer will be responsible for it.
Recently sold at the Fountains at McLean
You can still get a 1 bedroom home in the mid $220’s and a 2 bedroom home in the $350’s at the Fountains at McLean – a great value!
The average rent has been steadily increasing in the community at about 3% on average per year (which is on par with inflation.)
The Fountains at McLean is in a great community with reasonable prices that would make a wonderful home. If you would like to discuss selling or purchasing (5 Reasons We Rock For Buyers!), please give me a call at 703 560-3424 or contact us.