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VOLUME 37 NO. 26
G R E AT FA L L S • M c L E A N • O A K T O N • T Y S O N S • V I E N N A
FEBRUARY 18-24, 2016
Local Real Estate Sales Up Slightly as 2016 Kicks Off
CELEBRATING THE FOUNDING FATHERS ON STAGE
Year-over-year sales were up and average prices were down across the Fairfax County real-estate market in January, leaving total sales volume relatively flat compared to a year before. Sales for the month totaled 743 countywide, an increase of 5.4 percent from 705 in January 2015, according to figures reported Feb. 10 by RealEstate Business Intelligence, an arm of the local multiple-listing services. The average sales price of $504,805 was down 4.2 percent, as the average single-family price dipped 4.1 percent to $672,743. The average price of attached homes – such as townhomes – were down 1.2 percent, while the con- Regional home sales do segment of the market perform modestly posted a 1.4-percent rise at start of the year 9 – Story, Page 10 to $280,564. The median sales price of all homes that sold during the month was $444,000, up 1.1 percent from $439,000. Of homes that went to closing in January, it took 75 days from listing to ratified sales contract, up slightly from 73 days a year ago. Homes garnered an average 95.8 percent of listing price, up a tick from 95.7 percent. Conventional mortgages (415) and cash (100) represented the most typical ways of conducting sales. There 35 million-dollar transactions across Fairfax reported during the month. Add up the sales and prices, and the total sales volume of $375.1 million was up 1 percent from $371.4 million a year ago. Inventory remained relatively robust, with the 2,394 active listings at the end of the month an increase of just under 9 percent from January 2015. Where is the market headed? The snows of Jan. 22-23 and the week-long dig-out that followed may impact the market in the short term, but the number of pending sales in January was in positive territory, up 5.4 percent.
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John Adams (Brent Stone), Thomas Jefferson (Scott Gustaveson), Robert Livingston (James Maxted), Ben Franklin (Jeff Westlake) and Roger Sherman (Jerry Hoffman) discuss independence from Great Britain in McLean Community Players’ production of “1776,” now on stage at the Alden PHOTO BY TOBY REIDWAY/IRISH EYES PHOTOGRAPHY Theatre of the McLean Community Center. See review inside on Page 5.
Budget, Roads, Development Projects Top Foust’s Annual ‘State of McLean’ Remarks BRIAN TROMPETER Staff Writer
From snowstorms and overly large class sizes to road projects, redevelopment plans and a controversial gun store, McLean continues to
the county’s upcoming budget deliberations. Supervisors expect 2016 to be yet another tight budget year, and will have to meet a projected $65 Continued on Page 22
John Foust
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bustle with civic activity, Supervisor John Foust (D-Dranesville) told the Greater McLean Chamber of Commerce Feb. 11. During his annual “State of McLean” speech, Foust led off with the most pressing matter on his plate:
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