Based on new statistics released from MRIS median home prices in the DC Metro area are rising. The regional high in 2007 in August reported a median price of $425,000. and for August 2016 the median price is only 1% lower than the high. Currently the average median price is $4,250. away from matching the all time high and has greatly surpassed the low August all time low in 2009 by 23%.
Jurisdiction located in Northern Virginia that are in the study are: Falls Church City, Arlington, Fairfax City, Fairfax County and Alexandria City. The highest median price increase of August 2015 compared to August 2016 has been in Falls Church City reported at $799, 000. Surprisingly Arlington had a decrease and comes in at $540,000 while Alexandria City also had a shortfall of 16% with a median price of $440,000. Fairfax City is slightly up and the median price is $496,200. Fairfax County also has increased and the median price is $486,500.
The annual change in pending sales 2016 vs. 2015 has been mixed in the Northern of the Virginia Jurisdictions mentioned above. Fairfax City has seen the highest up 59.3%. Fairfax County is the next highest at an increase of 8.8% . Arlington, Alexandria City and Falls Church are down by 7.3%, 7.4% and 19.1% respectively.
To See the full report please view the article below
Baltimore and D.C. Metro Area Sales Reach Highest August Levels in a Decade