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): 1 DOWN and 2 UP.
MARYLAND housing market is skyrocketing upward---13.1% appreciation versus previous month's 7.6% appreciation. Yikes!
WASHINGTON DC is plunging rapidly. Current appreciation is 3.9%. This is huge decrease from last month when DC experienced 7.5% appreciation. Inflation was 7.9% in past 12 months.
NORTHERN VIRGINIA market continues to skyrocket upward, now at 9.4% from previous 5.9%annual increase.
NOTE: inflation is running at an annual rate of 7.9%. We should expect home prices to at least match the annual inflation rate.
Tobin's note: Median price of home today in WASHINGTON DC is $659,950. Same home 12 months ago would have cost $635,000. Increase of $24,950 over 12 months.You would have to save $2079.17 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 not good news. This is a "nationwide" graph and is true in Northern Virginia and Maryland. This is not true in WASHINGTON DC as the inventory of homes for sale continues to rise. WASHINGTON DC has an excess of home for sale.
See below. Bad news for home buyers. Again, this is a "nationwide" graph and is also very true in Northern Virginia and Maryland. Not true in WASHINGTON DC where home inventory is increasing. Low inventory = high prices.
See chart below: WASHINGTON DC (see below). Growing inventory of homes for sale has caused small increase in home prices in past 12 months.
See "gold" and "orange" dials below. SUMMARY: Buyer's Market.
See chart below. WASHINGTON DC home prices are plummeting downward. Now 3.9% annual appreciation vs. previous 7.5% increase. (Note: inflation for previous 12 months was 7.9%).
See chart below. WASHINGTON DC saw a decrease in number of homes sold this year when compared to 2021. 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 Only 3.9% in past 12 months. Inflation was 7.9%.
Past monthly, Housing statistics for Northern Virginia, Maryland and DC can be found at: www.DMVhousingStats.comarchive goes back several years.
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SPRING edition. Just released. 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.
SPRING edition. Just released. 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.
Regards,
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)
