The latest Standard & Poor's/Case-Shiller Home Price Index -- reporting data through February 2012 -- was released April 24. S&P methodology shows the Washington region's housing market continues to perform above other markets nationwide.
Accurate local statistics for specific neighborhoods in Washington, DC and surrounding inner ring suburbs can be found at Real Estate Business Intelligence. As the research component of MRIS, the local multiple listing service, RBI provides the most recent and accurate housing market statistics to the public based on actual sales recorded in MRIS. At RBI you can search sales statistics by zip code, county, or region.
Washington Metropolitan Statistical Area (MSA)
DC, Maryland, Virginia, West Virginia
- Standard & Poor's reports in the Washington region home prices rose 0.1% on a seasonally adjusted basis from January to February.
- Last month's Home Price Index showed that month-over-month Washington DC was one of only three cities that recorded positive gains -- up 0.7% in January 2012 over December.
- Annual price declines of 3.6% and 3.5% were recorded for the 10- and 20-City Composites, respectively. This is an improvement over the annual rates posted for the month of January, -4.1% and -3.9%, respectively.
- As of February 2012, average home prices across the United States are back to the levels where they were in late 2002 for the 20-City Composite and to early 2003 levels for the 10-City Composite.
According to the S&P/Case-Shiller 2011 Year in Review -- released March 16th -- single-family home prices in Washington, DC increased 8.4% from market bottom in 2009 and are about 80% above their 2000 levels.
When reviewing the S&P/Case-Shiller data keep in mind:
- Property Status - The S&P/Case-Shiller Home Price Indices include statistics for distressed properties (i.e. foreclosures, short sales), skewing home prices lower.
- Report Date - These numbers are for February 2012. The S&P/Case-Shiller Home Price Indices are published on a two month lag to offset delays in sales price data from county deed recorders.
- Property Type - The index reports single-family/detached home prices only; condo and co-op sales statistics are not included in the analysis.
Washington Metropolitan Statistical Area Defined
S&P methodology defines the Washington metropolitan area as a large region including parts of three states and the District of Columbia:
- Washington, DC
- Maryland - Calvert, Charles, Frederick, Montgomery, and Prince Georges Counties
- Virginia - Alexandria City, Fairfax City, Falls Church City, Fredericksburg City, Manassas City, Manassas Park City; Arlington, Clarke, Fairfax, Fauquier, Loudoun, Prince William, Spotsylvania, Stafford, Warren Counties
- West Virginia - Jefferson County