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DC Area Home Prices Rose 9.6% in 2013

by UrbanTurf Staff

DC Area Home Prices Rose 9.6% in 2013: Figure 1

Home prices in the DC region rose almost 10 percent in 2013, compared to 2012, according to a report out from RealEstate Business Intelligence (RBI) today.

Every jurisdiction covered by RBI had a higher median sales price in 2013. Prince George’s County led the way in terms of price growth with a 15.9 percent price increase; Falls Church prices followed close behind with a 13.6 percent increase and then DC proper with a 10.2 percent jump. December marked the 23rd month in a row that median prices rose year-over-year.

Condos led all property segments in median sales price growth, increasing 11.3 percent (or $30,000). Townhome prices in the region increased 10.7 percent, while detached home prices rose 7.4 percent.

Below are two other charts that give a sense of the local housing market in 2013, including where homes sold the quickest and where they sold closest to list price.

DC Area Home Prices Rose 9.6% in 2013: Figure 2

In 2013, homes sold the quickest in Falls Church, VA and the slowest Frederick, MD.

DC Area Home Prices Rose 9.6% in 2013: Figure 3

Homes on the market in DC were most likely to sell at or above their listing price in 2013.

Data provided by RealEstate Business Intelligence, a subsidiary of MRIS.

This article originally published at http://dc.urbanturf.com/articles/blog/dc_area_home_prices_rose_9.6_in_2013/7980

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