McLean/Tysons Corner, VA Market Report – 2/9/2011

09 Feb
February 9, 2011

A popular community in McLean, Tysons Corner is home to a major shopping mall of the same name and its upscale sister mall, Tysons Galleria. Tysons is considered the “downtown” of Fairfax County since one quarter of the county’s office space and one eighth of its retail space is located there.  And as the Metro Silver line construction is completed those numbers will grow considerably.

Surrounded by every conceivable amenity, homeowners and business owners in Tysons will find the very best in shopping, dining and recreation. The year-end statistics for Tysons indicated the total sales volume was down by 36% in December from the previous December. The average sales price however was up nearly nine percent.

Total Sales Volume for December $11,535,500
Average sales price $678,559
Average days on Market 83
Total properties under contract 22
Total New Listings 25

Construction on the Metro Silver Line and the I-495 Hot Lanes will continue for a few years. Congestion is typical on the Tysons roadways. Nonetheless, Tysons Corner real estate is some of the most desirable in Northern Virginia. There are beautiful neighborhoods, great schools, and easy access to many major highways. Many homes in the area have doubled in value in the last 5 years, and though the general market conditions for the county have suffered, Tysons remains a strong option for the savvy buyers.

Market data and commentary provided by Charlie Carroll, Managing Broker, Avery-Hess, Realtors.

Search for homes in McLean, Tysons Corner and all of the DC Metro: www.averyhess.com

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