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.
Quick summary of DMV (DC, MD and VA): all 3 UP.
MARYLAND housing market is skyrocketing upward---13.1% appreciation versus previous month's 7.6% appreciation. Yikes!
WASHINGTON DC is rising rapidly. Current appreciation is 7.5%. This is huge increase from last month when DC experienced 3.9% appreciation.
NORTHERN VIRGINIA market continues to skyrocket upward, now at 9.4% from previous 5.9%annual increase.
NOTE: inflation is running at an annual rate of 7.9%. We should expect home prices to at least match the annual inflation rate.
Tobin's note: Median price of home today in MARYLAND is $424,000. Same home 12 months ago would have cost $375,000. Increase of $49,000 over 12 months.You would have to save $4,083 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. This is not good news. Home interest rates continue to rise and are project to be an estimated 2-3% higher in 12 months.
SUMMARY: If you are thinking of buying----buy now.
See below. Bad news for home buyers. Federal Reserve is now saying "big rate hikes" are coming this year. Why? Inflation is at 7.9% and increasing. 15 months ago, inflation was under 2% and had been under 2% for past 12 years. If you are thinking of buying---buy now.
See below. Even with the bad news about home interest rates rising---there is good news for homeowners. In past 12 months the average homeowner has gained alot of equity.
See chart below: MARYLAND (see below). LOW supply of homes for sale continues to be a big challenge to home buyers.
See "gold" and "orange" dials below. SUMMARY: Seller's Market.
See chart below. MARYLAND home prices are rocketing upward. Now 13.1% annual appreciation vs. previous 7.9% increase. (Note: inflation for previous 12 months was 7.9%.
See chart below. MARYLAND 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 73 zip codes/communities in MARYLAND experienced an increase in appreciation of 13.1%.
Past monthly, Housing statistics for Northern Virginia, Maryland and DC can be found at: www.DMVhousingStats.comarchive goes back several years.
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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)
