The McLean, Virginia Housing Market Report

MARKET REPORT

The State of the Market

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 Mid-Atlantic, 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.

Solidifying its status as one of the Mid-Atlantic’s most desirable housing markets, McLean, Virginia delivered one of the highest home sales of the year with the sale of The Cliffs, a spectacular waterfront residence on Bulls Neck Road.

Featuring stunning views of the Potomac River, The Cliffs was built in 2022 and features over 32,000 square feet of interior living space as well as 5 acres of immaculately landscaped grounds. The home sold for $25.50 Million in October 2024 after 138 days on the market.

Closer to downtown McLean, Virginia on Dulany Drive, a nearly 8,000 square foot custom home completed in 2024 by acclaimed custom home builder Artisan Builders sold for $10.50 Million in October 2024.

“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 detached single family home in McLean, Virginia, you can expect to pay an average of $623.65 per square foot and an average total sales price of $2,60 Million. Detached single family homes in McLean, Virginia typically sell in 39 days.

For those seeking a new construction homes in Mclean, Virginia, options are available, with new construction single family detached homes representing 15% of all residential home sales.

In McLean, Virginia, for the year ending 2024, the average sale price for a new construction detached single family home was $3.90 Million with an average price per square foot of $634.98.

Among the most desirable communities in the Mid-Atlantic, raw land in McLean, Virginia is scarce, with only 20 land sales recorded for the year ending 2024 and an average price per acre of $2.13 Million.