What's Hot: Where Are People House-Rich in DC? | Rendering Revealed for One of the Largest New Residential Developments in Friendship Hts
DC Area Median Home Prices Reach Highest Level Since 2008
The median sale price for homes in the DC area has reached $400,000 for the first time in four years, according to a report released this morning.
The report from RealEstate Business Intelligence (RBI) revealed that the median home price for the region in June was $400,000, 5.3 percent higher than June 2011 ($379,990), and approximately $9,000 higher than the median price from last month. In DC proper, prices rose 4.6 percent, from $435,000 to $455,000, but the largest gain in the area was seen in Montgomery County, where prices rose 8.4 percent since last June.
Along with the median price gain, the other news from the report was data that signaled the increasing strength of the region’s condo market:
The 1,133 condo sales in June represent a 13.9 percent increase from last year, and the second consecutive month of double digit year-over-year growth…the condo market [also] experienced the sharpest growth in median sales price, rising 12.0 percent from this time last year, a $30,000 increase in value.
While the report generally provided good news, the low inventory numbers indicate that a lot of potential sellers are likely sitting on the sidelines. At the end of last month, there were 33.2 percent fewer active listings on the market compared to June 2011, marking the 16th consecutive month of year-over-year declines. Also, the 5,588 new listings entering the market last month was the lowest level for June since RBI started tracking data for the area.
The area that RBI analyzes includes DC, Montgomery County, Prince George’s County, Alexandria City, Arlington County, Fairfax County, Fairfax City, and Falls Church City. For more granular statistics of specific zip codes or areas, click here.
**Home pictured in thumbnail is for sale at 4101 Albemarle Street NW.
Similar Posts:
- DC Home Prices Rise in May as Inventory Dwindles
- Capitol Riverfront and H Street See Big Rent Increases
See other articles related to: realestate business intelligence, housing reports, dclofts, dc home prices, dc condos, dc condo market
This article originally published at http://dc.urbanturf.com/articles/blog/dc_median_home_price_reach_highest_level_since_2008/5745
Most Popular... This Week • Last 30 Days • Ever

Our guide for amateur landlords who don't really know what they're doing.... read »

The eight-bedroom, 35,000 square-foot home known as The Cliffs hit the market Wednesd... read »

Brookfield Properties is moving forward with development plans for additional sites i... read »

The most detailed rendering yet has been unveiled for the 310-unit redevelopment of t... read »

Developments both big and small are continuing to churn throughout the Anacostia area... read »
- The Essential Guide to Being an Amateur Landlord in DC
- $39 Million + A Basketball Court Over the Potomac: The DC Area's New Most Expensive Home For Sale
- 671 Units + a Waterfront Park: A First Look at the Big Plans Next to Nats Park
- Rendering Revealed for One of the Largest New Residential Developments in Friendship Heights
- The 17 Developments in the Works Between Anacostia and Buena Vista
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!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro