Washington DC Metro Area Median Home Sales Prices, December, 2012
Those of us that live and work in Montgomery County, Maryland, in the suburbs of Washington DC tend to think that our home prices are high. However, when compared with other northern Virginia, Montgomery County appears to one of the more affordable locations for families that are relocated to the area.
According to RBI, RealEstate Business Intelligence, the December median price in the DC Metro area was $359,000, up 10.5% from the same month last year. These figures are based on data from the regional multiple listing service, MRIS. Northern Virginia lead the area in median prices. The median price of single family homes in the area was up 12.9%, condominiums were up 10.4% and townhouse median prices were up 8.3%
Prospective home buyers need to be prepared for the lower than normal inventory of available homes and the possibility for multiple contract competition in many segments of the market. Please contact us for local market information on the communities that may be of interest.
Home buyers that plan to use mortgage financing should contact their lender for a pre-approval letter as one of the initial steps in the purchase price. We are always happy to suggest names of loan officers that have years of experience in the local market.
Longwood Gardens, Conservatory IMG_0211
Photograph by Roy Kelley using a Canon PowerShot G11 camera.
Roy and Dolores Kelley Photographs
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