DC Area Home Prices Up in 2009
The DC area saw an almost 4 percent increase in housing prices from 2008 to 2009, according to a report from the National Association of Realtors (NAR).
According to The Washington Business Journal, the report noted that single-family home sales prices were up $11,100 from an average price of $295,100 at the end of 2008 to $306,200 in 2009. Condo prices actually fell slightly to a median price of $239,000.
More on the report from the WBJ:
In the District, housing sales were up by 56 percent from a year earlier. Existing home sales in Maryland were up by 47.9 percent, while sales in Virginia were up by 12.5 percent from a year ago.
NAR chief economist Lawrence Yun attributed the all-around positive news to the federal tax credit and low interest rates.
This article originally published at https://dc.urbanturf.com/articles/blog/dc_area_home_prices_up_in_2009/1772.
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