How’s the Market?
THE question we, as brokers and agents get asked most often . . .
For 2017, the best answer would be, “for what area?” Overall, the Metro Area fared consistently well. With shifts in demographics, employment, and a keen focus on location specific areas perform very differently. Old standards predicting better performance of single-family homes over townhomes and condos have been upended in many areas.
One of the many distinguishing aspects of Properties on the Potomac, Inc., is that we list and sell properties throughout the Washington Metro area including Maryland, D.C., and Virginia. Our agents and brokers are licensed in multiple jurisdictions. We carefully track areas’ performance to best be able to help our clients plan for, and accomplish their goals.
General observations indicate that the market enjoyed a sustainable increase. Affordability drove demand, thus prices.
The Table below summarizes the overall activity by county and Washington, D.C.
Real Estate Values By Jurisdiction*
|Arlington County, VA||$879,723||$842,873||1.04|
|Fairfax County, VA (Incl incorp. cities)||$765,968||$$728,421||1.05|
|Loudoun County, VA||$564,927||$546,551||1.03|
|Montgomery County, MD||$694,008||$679,177||1.02|
|Prince Georges County, MD||$282,274||$259,915||1.08|
|Frederick County, MD||$325,034||$308,453||1.05|
* Data derived from MRIS
Would you like to learn specifically, how your area performed? Give us a call or send an email and we’ll be happy to share that information. The number of units sold exceeded the prior year and the number of days on the market declined.
Did you know that you can search the active MLS through our website?