You will not find this information anywhere else. Median sale price of homes by Zip Code and City. Data from MLS. Prepared by TOBIN SEVEN, Principal Broker / Army Veteran.
Quick summary of DMV (DC, MD and VA):
MARYLAND housing market is significantly getting more expensive---9.1% appreciation versus previous 7.2% appreciation. Reason is due to low inventory of homes for sale in MARYLAND and concern home interest rates are going to rise---and they are rising, almost daily.
WASHINGTON DC is cooling down, a lot. Current appreciation is 3.9%. This is huge decrease from last month when DC experienced 6.6% appreciation.
NORTHERN VIRGINIA market is cooling down to 6.7% from previous 7.1%annual increase.
Tobin's note: Median price of home today in WASHINGTON DC is $664,750. Same home 12 months ago would have cost $640,000. Increase of $24,750 over 12 months.You would have to save $2,063 each month to buy same home you saw 12 months previously.
TOBIN SEVEN, Principal Broker, Army Veteran.
Licensed in Virginia, Maryland and DC. Eagle Scout
SEVEN REAL ESTATE ASSOCIATES
Veteran Owned and Operated.
Cell (703) 327-6800
Below, are links to useful Housing information. For DMV (DC, Maryland and Virginia).
Archiveof past monthly reports for Northern VA, Maryland and DC.
See below. This is a frightening forecast from the nations #2 home Lender---Bank of America. If each Fed rate hike is the minimum .25 points----this would result in a total this year of 1.75 points.....ouch. As a point of reference, the Federal Reserve has raised rates only one time in the past 12 years---and that was .25 points.
If you are thinking of buying----buy now.
See below. Number of homes for sale continues to drop. This is why home prices are so high---low inventory. National average of homes for sale in past year (2021) was -26.8% lower than 2020!
See chart below: WASHINGTON DC (see below). Supply of homes is increasing. This why price appreciation has dropped.
See "gold" and "orange" dials below. SUMMARY: Buyer's Market.
See chart below. WASHINGTON DC home prices are SLOWING DOWN, a lot. Now 3.9% annual appreciation vs. previous 6.6% increase. Note: inflation for previous 12 months was 7%.
See chart below. WASHINGTON DC saw a decrease in number of homes sold this year when compared to 2020. Why? Not enough inventory of homes to buy.
See chart below---by Zip Code and Corresponding City
The 22 zip codes/communities in WASHINGTON DC experienced an increase in appreciation of 3.9%.
Past monthly, Housing statistics for Northern Virginia, Maryland and DC can be found at: www.DMVhousingStats.comarchive goes back several years.
NEW. See to the right. Looking for recipes of food to make? Latest home improvement and designer tips? 6 times a year, Tobin offers a high quality 30+ page magazine.Download pdfof latest magazine.
NEW WINTER edition. See below. 24-page FREE booklet on important things to consider when BUYING a home. Click here to download pdf 24-page booklet. Download is safe.
NEW WINTER edition. See below. 20-page FREE booklet on important things to consider when SELLING a house. Click here to download pdf 20-page booklet. Download is safe.
TOBIN SEVEN, Principal Broker (Realtor) / Army Veteran --- Licensed in Virginia, DC and Maryland. Eagle Scout.
SEVEN REAL ESTATE ASSOCIATES LLC is Veteran Owned and Operated.
Voted Top 8%of all Real Estate Agents in USA (2022 - 2018)