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): 2 DOWN and 1 UP.
MARYLAND housing market is cooling---7.6% appreciation versus previous 9.1% appreciation.
WASHINGTON DC is rising rapidly. Current appreciation is 7.5%. This is huge increase from last month when DC experienced 3.9% appreciation.
NORTHERN VIRGINIA market continues to cool, now at 5.9% from previous 6.7%annual increase.
NOTE: inflation is running at an annual rate of 7.5%. 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 $645,000. Same home 12 months ago would have cost $600,000. Increase of $45,000 over 12 months.You would have to save $3,750 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. Chart below shows a "snapshot" of home for sale each January for past 5 January's. This is nationwide report. Reason home prices are high is because very low inventory of homes for sale.
SUMMARY: If you are thinking of buying----buy now.
See below. Unlike 2008/2009 housing crash---graph below shows very few homes are projected to go into foreclosure. SUMMARY: If you are looking to buy a home in foreclosure---not likely to happen.
See below. According to a nationwide Gallup Poll---Real Estate is favored by 41% of Americans as a better investment than Stocks, Gold or Savings. SUMMARY: Great hedge against inflation is Real Estate.
See chart below: WASHINGTON DC (see below). LOW supply of homes for sale continues to be a big challenge to home buyers.
See "gold" and "orange" dials below. SUMMARY: Seller's Market that could easily change to "Buyer's market.
See chart below. WASHINGTON DC home prices continue to COOL DOWN. Now 7.6% annual appreciation vs. previous 9.1% increase. Note: inflation for previous 12 months was 7.5%.
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 7.5%.
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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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.
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.
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