2009 Real Estate Guide
real estate
Home price trends in Washington D.C.

City-by-city price comps
Washington, D.C.
A shift in power has arrived along with increases in resale sales activity and positive job growth. John Burns Real Estate Consulting says foot traffic through new home communities in the area seems to be up, but many folks aren’t ready to commit to a purchase. Expect to see continued double-digit price declines as the market adjusts to a more normal state. Home prices are 29 percent above equilibrium, according to Local Market Monitor.
Median price end of 2008:$295,100
Median price end of 2007:$400,100
Percent change:-26.2%
Projected change through Q3 2009:-13.4%
Affordability rating:0.5
Foreclosures in 2008:
(1 for every 34 households)
51,148
Foreclosures in 2007:
(1 for every 86 households)
19,229
Change in foreclosures:166%
Expected to hit bottom:Q1 2010
Percent drop needed to reach bottom:-38.3%
Current rate comparison
» Click here to view the Top 40 map.
Price trends
Q1 2008 national median price: $196,100
Q2 2008 national median price: $206,400
Q3 2008 national median price: $200,400
Q4 2008 national median price: $180,100
Q1 2008 local median price: $371,800
Q2 2008 local median price: $370,300
Q3 2008 local median price: $332,700
Q4 2008 local median price: $295,100

 Back to the 40-city chart overview.

advertisement

          Connect with us
advertisement
advertisement

Blog

Holden Lewis

What’s unexpectedly useful in a 1st home?

A redditor (that's a member of the freewheeling website Reddit) asks: "Homeowners of Reddit: when you purchased your first home, what item did you not think about that ended being very useful to you?" RATE SEARCH: Shop today for a mortgage. What a great question, and the answers are delightful. Some are profane and hilarious.  ... Read more

advertisement

Connect with us