DC Metro Area's June First-Time Homebuyer Report

The DC Metro Area is older the rest of USA, with a median age of 36. However, it happens to be the most affluent metro area in the country, with a median income of $83,140 per household. Its three largest counties are Fairfax County, Montgomery County, and Prince George's County. The DC Metro Area market is mostly made up of detached homes, currently accounting for 66% overall. Leading the list of best schools in the metro area are Sunderland Elementary School, Thoreau Middle School, and Freedom High School.

Price Range

The DC Metro Area has some of the more expensive homes in the country with a median home value of $329,100 and a current average list price of $434,514. Falls Church City, Arlington County, and Fairfax County are the costliest places in the metro area. In this week's report, the number of homes sold in the DC Metro Area market fell to 8,291 over the past 30 days, but still above the monthly average.

Typical Dwelling

A four-bedroom detached home valued around $532,005 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 $106,401 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $1,954 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 6/15/2017

Comments:

Ask a local expert about this area:
Weichert, REALTORS
Snapped 195 homes in this area
EXP Realty, LLC
Snapped 8 homes in this area
Snapped 640 homes in this area

Agents that specialize in this area
454 snaps in this area
402 snaps in this area
102 snaps in this area
15 snaps in this area
134 snaps in this area
14 snaps in this area
16 snaps in this area
11 snaps in this area
61 snaps in this area
10 snaps in this area
©2017 Homesnap 1-800-431-5509 Housing market data, school data and demographic information is provided by Black Knight Financial Services. Information is deemed reliable but not guaranteed. Sitemap Terms of Use Privacy Policy
Sign-in with Facebook Sign-in with Twitter
or
I'm a real estate agent
Already a User? Sign In Below:

Sign In

Forgot Password? Click Here...

Sign-in with Facebook Sign-in with Twitter
or

Sign In

Forgot Password? Click Here...

Please enter the email address you used to register with Homesnap and an email will be sent with instructions for resetting your password.