What Does $3,000,000 Get You in Northern Virginia?

In the interest of transparency, it's worth mentioning that I'm currently representing a property that served as the catalyst for this article. I believe it represents one of the best values in the luxury market today. However, to ensure a well-rounded perspective, I took a deep dive into the competition, specifically homes priced between $3-3.5MIL. Within this price range, you typically encounter 3 to 4 distinct categories of homes and neighborhoods. Those include new construction homes in tear down neighborhoods of Mclean, Arlington, and Mclean and the new home community of Arden in Great Falls.

I'll share insights I’ve learned while being deeply involved in this communities over the last several years. While this analysis isn't comprehensive, it offers an informed glimpse into the current market that hopefully helps if you find yourself exploring any of these options. 

In the Heart of McLean

Starting in the close-in areas of McLean, you're likely to encounter the infill house—where a home is torn down and a new home is built. These homes, typically priced start around $2.8 to $2.9 million and upwards, represent a sort of "standard" in Mclean new construction. For your money, expect lots of square feet, usually over 4 levels, ranging from 5,500 to 7,000 square feet, situated on comparatively modest lots of only 7,000 to 9,000 square feet. The finishes are high-end by any standard, albeit leaning towards the basic in the luxury spectrum—think two-car garages, maybe a screened porch but at least a deck, and if you’re lucky Wolf and SubZero appliances. Probably in the Mclean High School district.: 6601 Ivy Hill Dr, Mclean, VA 22101, $2,850,000

Crossing the $3 million threshold, in the $3.3MIL-3.5MIL range in McLean is when you see some upgrade: slightly larger lots, perhaps a third of an acre, with homes of similar size but enhanced finishes, potential for a three-car garage, and a more prestigious neighborhood setting. https://redf.in/RtnxIy.  6033 Corland Ct, Mclean, VA 22101, $3,395,000

Arlington's Desirable Neighborhoods

Arlington offers a different flavor of luxury with its $3 million homes. Here, the lucky few might stumble upon a gem in Lyon Village or close by—a beautiful, albeit possibly dated, resale home boasting walkability and spaciousness. Alternatively, newer constructions further north in areas like Country Club Hills and Donaldson Run present modern luxury, with the trade-off being less land than you might find further out: 4509 39th St N, Arlington, VA 22207, $3,450,000

Great Falls' Arden Community

Arden is barely in Great Falls, more of a Tysons Corner/Mclean location. For those drawn to more space and a homogeneous community, Great Falls' Arden, developed by Toll Brothers, has been the most popular new home community in Northern VA since 2021. Homes in this neighborhood, ranging from $3 to $4 million, lets you have it all, albeit at the expense of a production builder vs a custom builder in Mclean and Arlington. With 5 car garages, more than 8,000 square feet of living space, and generous acre-sized lots, I like being able to see where I am spending my budget! A departure from the tear-down culture which is not easy to find inside the beltway. 1352 Tate Modern Lane, Great Falls VA 2206 $3,350,000

The Town of Vienna: Finally Breaking $3MIL

It seems like every new construction buyer I meet in Vienna these days was once originally reluctant to consider Vienna while house hunting in Mclean and Arlington. However, a growing number find themselves drawn to Vienna's unique appeal. The town offers a mix of walkable amenities and rapidly evolving neighborhoods, delivering much of what McLean and Arlington provide but at a more accessible price point closer to $2.3 to $2.5 million. While only two homes have breached the $3 million mark since 2021, the presence of several $3MIL+  homes currently on the market or under construction indicates a shift further out.  The larger lots and  more expensive homes are mostly found in the NE & SE Quadrants of Vienna. 300 Niblick DR SE, Vienna VA 22180, $3,249,000

Whether you're drawn to the proximity of McLean, the cultish devotion to Arlington, or the expansive estates in Great Falls, navigating this landscape requires a keen eye for detail and a clear understanding of what is important to you. Let me know what you think in the comments below :) 

Check out the video for 1352 Tate Modern Lane, Great Falls, VA, Listed for $3,350,000