December's First-Time Homebuyer Report for DC Metro Area

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 its three most populated counties. Homes in the DC Metro Area are relatively old with a median age of 32 years. Leading the list of best schools in the metro area are Takoma Park Elementary School, City Collegiate Pcs, and Ellington School of the Arts.

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 $435,532. In this week's report, the number of homes sold in the DC Metro Area market slid to 5,872 over the past 30 days. It marked a decrease of 3.7% from last week's report and another period below the monthly average.

Curious as to which homes have been getting the most attention in the DC Metro Area? These listings have stirred up interest and produced the most views:

$1.8M   $729K   $9M  

Typical Dwelling

The typical dwelling in the DC Metro Area is a four-bedroom detached home worth about $515,488. To purchase a similar home, a buyer with good credit and a $103,098 cash down payment could obtain a mortgage with a 3.95% interest rate and a $1,848 monthly payment. 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 12/22/2016


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