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): One is UP a lot, two DOWN a lot.
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 continues to cool, now at 5.9% from previous 6.7%annual increase.
Tobin's note: Median price of home today in NORTHERN VIRGINIA is $535,000. Same home 12 months ago would have cost $505,000. Increase of $30,000 over 12 months.You would have to save $2,500 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 news. We may never again see home interest rates in the 3% range. And Federal Reserve now says they will raise federal funds rate at least 5 times this year. As a comparison---Federal Reserve raised federal funds rate only one time in past 12 years---and that was 0.25%.
If you are thinking of buying----buy now.
See below. Seems like everything about housing is increasing in cost. You need to live somewhere. Nationwide rents are increasing at more than double the 7.5% annual rate of inflation. Buying a home is a better deal and buying locks in your mortgage payment for 30 years (excluding taxes---which seem to always go up).
See chart below: NORTHERN VIRGINIA (see below). Supply of homes is increasing. This why price appreciation has dropped.
See "gold" and "orange" dials below. SUMMARY: Seller's Market.
See chart below. NORTHERN VIRGINIA home prices continue to COOL DOWN. Now 5.9% annual appreciation vs. previous 6.7% increase. Note: inflation for previous 12 months was 7.5%.
See chart below. NORTHERN VIRGINIA 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 101 zip codes/communities in NORTHERN VIRGINIA experienced an increase in appreciation of 5.9%.
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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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.
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