If you’re thinking of buying a condo at the Fountains at McLean, you can look at every property that is currently for sale by clicking on the link below. Remember that every listing on NorthernVirginiaHomePro.com is updated daily, so you always have access to the most current real estate information.
Search condos for sale at the Fountains at McLean
The analysis below will go into detail about recent sales in this community, so you’ll get a good feel for how much real estate here is currently worth.
The Fountains at McLean is made up of 1-bedroom and 2-bedroom condos. As of the writing of this post, there are currently three 1-bedrooms for sale and five 1-bedrooms that are under contract, and there are two 2-bedrooms for sale and one 2-bedroom currently under contract.
The Fountains at McLean – closed sales over the past six months
1-bedroom sales:
- 1524 LINCOLN WAY #102 – closed at $198,000 in December 2014
- 1504 LINCOLN WAY #310 – closed at $212,000 in January 2015
- 1533 LINCOLN WAY #103 – closed at $217,000 with a $6,500 in February 2015
- 1524 LINCOLN WAY #223 – closed at $220,000 in November 2014
- 1524 LINCOLN WAY #231 – closed at $230,000 in September 2014
- 1535 LINCOLN WAY #203 – closed at $240,000 in January 2015
- 1515 LINCOLN WAY #203 – closed at $254,000 in February 2015
- 1525 LINCOLN WAY #101 – closed at $265,000 with a $6,000 seller subsidy in November 2014
2-bedroom sales:
- 1543 LINCOLN WAY #104 – closed at $360,000 in September 2014
- 1541 LINCOLN WAY #304 – closed at $369,900 with a $5,000 seller subsidy in October 2014
When analyzing closing sales prices in any area, it’s important to factor in not only the actual sales price, but any seller subsidy as well. A buyer will sometimes ask for money from the seller to put toward closing costs, and if the seller agrees to this, it reduces their bottom line, which means there is a lower net sales price.
In the last six months, sales prices of 1-bedroom condos at the Fountains at McLean ranged from just under $200,000 to $259,000. If you look back a full year, you’ll find 1-bedroom properties that sold for higher, and with the coming of the spring market, I expect the nicer 1-bedrooms at the Fountains at McLean to fetch higher prices than this range from the past six months. Closing prices of 2-bedroom properties ranged from $360,000 to $369,900 during this same timeframe.
As a buyer in the Fountains at McLean, you should expect to pay anywhere from the low to high $200,000s for a 1-bedroom condo, and somewhere in the mid to high $300,000s for a 2-bedroom condo, depending on how upgraded the unit is.
Properties at the Fountains at McLean that have renovated kitchens with granite counters, updated cabinetry, and nice tile work, as well as renovated bathrooms and hardwood floors, tend to sell for significantly higher than properties that are outdated. Also, things like newer HVAC systems add significant value in some buyers’ minds, although as a seller, you shouldn’t expect to get a 100% return on your investment by installing a new HVAC or new windows. Buyers like these things, but they often simply expect the “systems” of a property to be in good working order and don’t assign a lot of extra value to them when they are new.