Washington, D.C. homes explode

Apr 10, 2013 by

bubble burstThe median price of a home in the District reached its highest point in history last month, according to the latest data from RealEstate Business Intelligence, a subsidiary of MRIS.

D.C.’s median sale price soared to $460,000 from $405,000 in February, an increase of 13.6 percent month over month. For the entire metro area, the growth was more modest. The median sale price for the region rose 8 percent, to $372,500 in March from $345,000 in February.

Falls Church boasted the largest median price in the area last month and the biggest percentage uptick year over year. The median sale price for homes in Falls Church climbed to $631,000 in March, a 37.7 percent increase. However, there were only 16 sales in Falls Church in March, which likely skewed the numbers.

Similarly, Alexandria showed a big jump in median sale price, going from $391,950 in March 2012 to $487,500 last month. This 24.4 percent increase was more realistic than Falls Church because it was based on 186 sales.

via Median sale price of homes in Washington, D.C., hits record high – Where We Live – The Washington Post.

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