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]

It's amazing how much bad information can be added to a single post.[/quote]

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