Housing Prices Up in D.C. Metro Area

Sales prices of existing single-family homes continue to rise, according to new data.

Good news for homeowners, especially those thinking about selling: Home prices across the country and here in the D.C. metro area rose more than expected in July, according to data released Tuesday from the S&P/Case-Shiller Housing Index.

In the D.C. metro area, the seasonally adjusted price index (which measures the average sale price for single-homes) for July this year was 188.64, up from 182.06 in July 2011 and 184.11 in July 2010. 

The numbers are calculated based on the repeat sale of existing single-family homes, where the baseline of 100 is the average price as of January 2000.

The bottoming out of the index in our area was in April 2009. 

According to data from Trulia.com, a real estate site, the average listing price of homes in Fairfax County for the week ending Sept. 19 was $885,047, boosted by high prices in certain ZIP codes, particularly in the McLean area. The median sales price in Fairfax County between June and August was $505,000. (Look up your ZIP code's data here.)

In Mount Vernon, the average listing price of homes in the 22309 ZIP code for the week ending Sept. 19 was $865,388, slightly higher than the average listing price of homes in Fairfax County. The median sales price in Mount Vernon between June and August was $350,000.

“The S&P/Case-Shiller index of property values in 20 cities increased 1.2 percent from July 2011, the biggest 12-month advance since August 2010,” Bloomberg News reported this morning.

Do you think housing prices in your neighborhood have stabilized or are heading up? Are you happy with the current value of your home? Comment below!

j sobel September 26, 2012 at 11:25 AM
My Home was listed at 165,000 dollars in 2006 and now is listed at 125,000 dollars. Needless to say I'm very disappointed in the housing market in the Upper Peninsula of Michigan.
Sybil September 26, 2012 at 01:46 PM
I agree with you J. We have homes in KY, OH and NC. Homes in OH and KY were not built on inflated prices yet we are suffering. I think the only reason that Boston and DC have increase in prices because that is where the jobs are! Lots of jobs. Mostly government jobs. Where else can you find a decent job?


More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »