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 is skyrocketing upward---13.1% appreciation versus previous month's 7.6% appreciation. Yikes!
WASHINGTON DC is plunging rapidly. Current appreciation is 3.9%. This is huge decrease from last month when DC experienced 7.5% appreciation. Inflation was 7.9% in past 12 months.
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 NORTHERN VIRGINIA is $615,000. Same home 12 months ago would have cost $547,500. Increase of $67,500 over 12 months.You would have to save $5,625 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. First time home SELLERS make up less than 1/3 of the market.
See below. Not good news. And Federal Reserve says they will hike the Federal Funds rate, 6 more times this year.
Summary: If you are going to buy---buy now!
See below. Home ownership is one of the best ways to build family wealth.
See chart below: NORTHERN VIRGINIA (see below). Homes for sale are scarce.
See "gold" and "orange" dials below. SUMMARY: Seller's Market.
See chart below. NORTHERN VIRGINIA home prices are skyrocketing upward. Now 12.3% annual appreciation. (Note: inflation for previous 12 months was 8.5%).
See chart below. NORTHERN VIRGINIA 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 101 zip codes/communities in NORTHERN VIRGINIA experienced an increase in appreciation of Only 3.9% 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 here to 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 here to 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)
