The sold units earlier in the year at a high price has slowed the market some lately for 1 bedrooms. Encouraged by the increase in prices, homeowners have been listing their 1 bedroom units in the $275,000 and up range. Most of those units have been sitting (and some having been withdrawn) with the last 1 bedroom unit selling in early May. There is a 1 bedroom pending that is scheduled to close on August 16th – it was an updated unit with hardwood floors and updated kitchen and bath.
Three 2-bedrooom units sold this year and prices have been rising well. There is one unit listed for sale at $419,000 and another pending. The 2 bedroom available for sale is actually a 3 bedroom that was converted to a 2 bedroom.
Rentals are doing ok with 35 rented so far this year. Rental prices seem to be working their way up too.
Apart from the sales and rentals lots of things are happening in the area with the Silver Line metro nearing completion and Capital One gaining approval for their plans at the neighboring site. To see what is currently for sale at the Gates of McLean, look here.
We know the Gates of McLean – if you have any questions please contact us!