Haven’t bought a home in D.C. yet? Well, here’s yet another reminder that you might be a little late to that game, reports the Washington Times:
In the District, the median price of a home was $460,000 in March, up $55,000, or nearly 14 percent from the same period the previous year, according to a survey from RealEstate Business Intelligence, a subsidiary of MRIS that tracks home prices. That’s the District’s highest median price in the history of the survey.
RealEstate Business Intelligence says the region’s low number of homes available for sale means they are selling faster and at higher prices.
Last week we reported that a good chunk of that increase was in the condo market: the median sales price for a condo in January was 17.3 percent higher than the same month a year prior.
Martin Austermuhle