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 / Eagle Scout.
Quick summary of DMV (DC, MD and VA): 1 DOWN and 2 UP.
MARYLAND housing market has reduced appreciation somewhat---9.5% appreciation versus previous month's 12.3% appreciation. ....still high!
WASHINGTON DC is plunging rapidly. Current appreciation is 4.8%. This is huge decrease from two months ago when DC experienced 12.3% appreciation.
NORTHERN VIRGINIA market continues to skyrocket upward, now at 12.3% from previous 9.4%annual increase. ......Yikes!
NOTE: inflation is running at an annual rate of 8.5%. We should expect home prices to at least match the annual inflation rate.
Tobin's note: Median price of home today in WASHINGTON DC is $660,000.
Same home 12 months ago would have cost $630,00.
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. Home ownership is a great hedge against inflation. And inflation has risen to 8.5% .....yikes!
See below. Not good news. Just this year alone, 2022
if you wanted to keep your monthly mortgage payment at $3,500 per month.
in January you could have bought a $807,267 home.
today, almost 4 months later, you could only afford a $643,898 home.
Conclusion. Home interest rates are going to continue to rise. If you are thinking about buying---buy now!
See below. Interesting information. Major interstate highways are numerically numbered. Never knew that.
See chart below: WASHINGTON DC (see below). Growing inventory of homes for sale.
See "gold" and "orange" dials below. SUMMARY: Buyer's Market.
See chart below. WASHINGTON DC home prices are plunging, fast---although price increase has moderated somewhat.
Now 4.8% annual appreciation
Two months ago 12.3% appreciation.
Note: inflation for previous 12 months was 8.5%.
See chart below. WASHINGTON DC saw a decrease in number of homes sold this year when compared to 2021. Why? Not enough inventory of homes to buy.
See chart below---by Zip Code and Corresponding City
The 22 zip codes/communities in WASHINGTON DC experienced an increase in appreciation of Only 4.8% in past 12 months. Inflation was 8.5%.
Past monthly, Housing statistics for Northern Virginia, Maryland and DC can be found at: www.DMVhousingStats.comarchive goes back several years.
NEW. See to the right. Looking for recipes of food to make? Latest home improvement and designer tips? 6 times a year, Tobin offers a high quality 30+page magazine.Download pdfof latest magazine.
SPRING edition.Just released. See below. 24-page FREE booklet on important things to consider when BUYING a home. Click hereto download pdf 24-page booklet. Download is safe.
SPRING edition.Just released.See below. 20-page FREE booklet on important things to consider when SELLING a house.Click hereto download pdf 20-page booklet. Download is safe.
Regards,
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.
Voted Top 8%of all Real Estate Agents in USA (2022 - 2018)
