The median price for a home in DC in April was about $700,000, but that figure doesn't really provide a sense of the cost of different home types in the city. So, UrbanTurf looked at median prices for condos, co-ops, rowhouses and detached single family homes over the last year to provide a more clear sense with what is happening with DC housing prices.
Over the last year, DC condo and co-op prices haven't moved very much. The median price of a condo/co-op came in at $540,000 in April, up about 1% compared to April 2021. Condo prices have been similarly flat in the DC region, rising about 4% year-over-year to $376,000.
The increase in rowhouse and townhome prices in DC over the last 12 months is a bit more pronounced than that of condos/co-ops. Prices for this property type rose 8% in the last year to $950,000. Prices increased year-over-year in each of the last 12 months with winter seeing slow appreciation.
In April, the value of a detached house in DC shot to another record. The median price for this property type in the city rose to $1.395 million, according to Bright MLS, up 11% compared to last April. Despite the record, detached home prices have slowed from their epic increases of last spring.
Photo courtesy of Tom Faison.
This article originally published at https://dc.urbanturf.com/articles/blog/376000-to-1-4-million-how-much-a-home-really-costs/19694.
Most Popular... This Week • Last 30 Days • Ever
This week’s Best New Listings includes a custom condo in downtown DC, a one-story h... read »
Why condo fees are high in some buildings and low in others can be a difficult questi... read »
When sellers haven't quite lined up their next house before their settlement date com... read »
In this edition of First-Timer Primer, we look into the question of how to determine ... read »
The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
Virginia's homebuyer assistance programs can seem complex. This edition of First-Time... read »
In this edition of First Timer Primer, we take a closer look at what you are actually... read »
To help home buyers and sellers both novice and seasoned, UrbanTurf is running a seri... read »
A recent transaction shows that the housing market isn't cooling off everywhere.... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro