DC Metro Area First-Time Homebuyer Report for October

With a 16.4% increase over the last 10 years, the population of the DC Metro Area is growing slower than other parts of the country. Also, with 5,582,170 residents, it is the eighth-most populated metro area in USA. Fairfax County, Montgomery County, and Prince George's County are the three largest counties in terms of population. With a median age of 32 years, homes in the DC Metro Area tend to be relatively old. The top schools in the metro area are Takoma Park Elementary School, Washington Latin Pcs, and School Without Walls Sr High School.

Price Range

The median value of homes in the DC Metro Area is $329,100, making it one of the most valuable areas in USA. At the same time, the average list price of available homes is presently $431,059. The DC Metro Area market hit a low point in the last 30 days, continuing a 12-week trend. Sales fell 1.4% to 6,233 homes, the lowest amount since April.

Make sure you take a look at these eye-catching homes in the DC Metro Area that generated the most views from potential buyers:

$1.8M   $9M   $3.4M  

Typical Dwelling

A four-bedroom detached home valued around $516,558 is considered a typical dwelling in the DC Metro Area. If a buyer was looking for a similar home, they would need good credit and a $103,312 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $1,783 and the property tax rate is $11.04 per $1,000 of taxable assessed value.

Get started right now by checking out DC Metro Area homes for sale or reviewing DC Metro Area real estate trends.

Data reported through 10/13/2016


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