Delta Associates Washington Area Housing Outlook for 3rd quarter 2012 was released October 25. By most measures, the Washington Metro Area housing market has consistently performed better than other metro areas’ housing markets. This is seen most clearly when examining longterm performance.
Washington Metropolitan Area
District, Alexandria, Arlington; Fairfax, Montgomery, Prince Georges Counties;
Loudoun, Prince William, Frederick Counties
- Prices: Average price of a Washington *area* home is now $430,817 - up 4% over third quarter 2011.
- List/Close Price Ratio: the average selling price is now 98% of list price
- Sales volume: Rose 6.7% over last year.
- Days on market: Down over the year to just 56 days, well below the long-term average of 78 days.
- Months of inventory: 3.0 months down from 4.8 months one year ago.
District of Columbia, Alexandria, Arlington
Prices remain highest in the Core jurisdictions of DC, Arlington and Alexandria. The average price of a Core home in third quarter 2012 is $547,277 - 3.2% higher than the third quarter of 2011. Time on market dropped to 54 days, down from 69 days last year.
- District: the average price in the 3rd quarter of 2012 is 3.6% higher than one year earlier.
- Alexandria: the average sales price in the 3rd quarter is 5.9% higher than one year ago.
- Arlington: the average price is 0.9% higher than a year ago.
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Delta Associates is a firm of experienced professionals offering research, advisory, and valuation services to the real estate industry for over 30 years. The firm's Housing Outlook draws from a wide variety of sources including the Bureau of Labor Statistics, the Federal Housing Finance Agency, the National Association of Realtors, Standard & Poor's/Case-Shiller, and the U.S. Census.