New Strong Trend in Home Prices for DC Metro Area Real Estate Market

The DC Metro Area market slowed with a 12.8% sales drop in this week's report. Overall sales numbers for the last 30 days remained below the 6,566.2 monthly average with 5,562 homes sold. Fairfax County made up the largest percentage, with 966 sales on its own. The median sales price of homes sold came in at $374,900, which extended a price upswing to eight weeks. In spite of the decrease in sales, the lack of inventory signals that the DC Metro Area is still a strong seller's market.

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Demographic facts for the DC Metro Area:

  • The population growth rating is 53. (Scale: 1 = Worst, 100 = Best)
  • The property tax in this area is $11.04/$1,000.
  • The area's commuter length breakdown is: <15 min (15.9%), 15-29 min (29.8%), 30-44 min (25.5%), 45-59 min (13.4%), >60 min (15.5%).

Data reported through 1/5/2017

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