Your purchase budget should begin with a payment you can comfortably afford, not a townwide price. Let's separate useful price context from the financial boundaries that matter to you.
The latest market report covers McLean single-family homes, condos, townhouses and apartments. The typical sale price was $1,557,900 for completed sales. The typical asking price among homes listed for sale was $1,327,495. Housing supply, measured in months, was 4.96, a townwide measure rather than a personal affordability calculation.
Neither price establishes what you should spend, because your financing, ongoing expenses and preferred home features require separate consideration. I would use these figures to orient the search, then compare homes within the financial boundaries you establish. A lower purchase price is not automatically the better fit when ownership expenses or anticipated repairs differ.
Discuss a comfortable payment and the money needed at closing with your lender before selecting a search range. Separate must-have features from preferences so we can recognize useful compromises without stretching your finances. Review taxes, fees and likely maintenance for each serious candidate rather than judging affordability by its asking price alone.
