Reply to Is there a reason real estate has appreciated so much more in VA than MD and DC?

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[quote=Anonymous][quote=Anonymous]OP I don’t think your premise holds up to scrutiny. DMV house prices have gone up across the board. We live in a Md community where average house prices surged by &gt;100%.

According to local real estate analysis:

Overall, House prices in the Washington, D.C. (DC) metro area have appreciated more than in Maryland or Virginia, but the rate of appreciation varies by location: 
 
Washington, D.C.
The median home price in Washington, D.C. increased 4% in November 2024, reaching $655,000. In May 2024, the median sale price was $706,050, a 14.8% increase from May 2023. 
 
Maryland
The median home price in Maryland was $408,200 in September 2023, a 5% increase from the same month in 2022. 
 
Virginia
The median home price in Virginia was $371,528 in March 2024, a 5.1% increase from the previous year. However, some cities in Virginia have seen particularly strong appreciation, including:

Falls Church City: In 2024, the median sold price in Falls Church City was $1,125,000, a 31.6% increase from 2023.

Fairfax City: In 2024, the median sold price in Fairfax City was $775,000, a 10.7% increase from 2023.

Alexandria City: In 2024, the median sold price in Alexandria City was $715,000, an 8.3% increase from the previous year

The October 2024 data for Montgomery County, MD, showcases a wide range of price fluctuations:

Beallsville, MD witnessed an astounding 134.5% increase in median sold price, jumping from $522,500 in 2023 to $1,225,000 this year.

Cabin John, MD follows closely with a remarkable 109.3% rise, as prices surged from $720,000 to $1,507,250.

Similarly, Sandy Spring, MD saw a dramatic 49.5% increase, reaching $1,000,000 from $669,000, and

Barnesville, MD recorded an impressive 86.8% growth to $535,000 from $286,338. These gains highlight the growing allure of Montgomery County's smaller, upscale markets.

Other well-established areas also saw significant appreciation. Garrett Park, MD rose by 20% to a median price of $1,415,500, while

Bethesda, MD experienced a solid 8.9% increase, reaching $1,274,000. Rockville, MD and Laurel, MD also showed steady growth, with increases of 7.8% and 7.3% respectively, indicating sustained demand in these family-friendly locales.[/quote]
Huh? You’re comparing huge parts of Virginia to much more narrowly defined areas in MD. Not breaking our Arlington, Vienna, McLean, etc. but comparing Fairfax county to Bethesda and Cabin John. You’ve basically excluded all the closest in and most desirable areas of NoVa and are like “see MD is great!”[/quote]

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