DC Metro Area's March First-Time Homebuyer Report

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. The three counties with the largest populations are Fairfax County, Montgomery County, and Prince George's County. The DC Metro Area is made up of homes that are considered relatively old with a median of 32 years. The top schools in the metro area are Takoma Park Elementary School, City Collegiate Pcs, and Ellington School of the Arts.

Culture

According to Foursquare, if shopping is your thing, you might enjoy Tysons Corner Center, Fair Oaks Mall, and Tysons Galleria. If you like outdoor activities, some popular spots are Great Falls Park and Billy Goat Trail. For arts and entertainment, you'll find Steven F Udvar-Hazy Center and AMC Tysons Corner 16.

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 $442,309. Over the last 30 days, 4,479 homes were sold in the DC Metro Area market, down 3.7%. Additionally, the market is still in a budding downward trend overall.

Wonder which homes are generating the most buzz? Here are the most viewed listings in the DC Metro Area:

$1.8M   $1.1M   $459K  

Typical Dwelling

The typical dwelling in the DC Metro Area is a four-bedroom detached home worth about $520,101. To purchase a similar home, a buyer with good credit and a $104,020 cash down payment could obtain a mortgage with a 3.95% interest rate and a $1,746 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 3/2/2017

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