Home Prices In DC Area Reach Record High

576_Innsbruck_Avenue_63882_005

As many Americans worry that their home values will never reach what they were before the financial crisis, homeowners in the Washington, DC area are seeing their home values soar to record highs. It seems like the only people doing well in this new economy are those in the government sector, on Wall Street or President Obama and the Democrats’ bogus green cronies.

The median price of a home in the District reached its highest point in history last month, according to the latest data from RealEstate Business Intelligence, a subsidiary of MRIS.

D.C.’s median sale price soared to $460,000 from $405,000 in February, an increase of 13.6 percent month over month. For the entire metro area, the growth was more modest. The median sale price for the region rose 8 percent, to $372,500 in March from $345,000 in February.

Falls Church boasted the largest median price in the area last month and the biggest percentage uptick year over year. The median sale price for homes in Falls Church climbed to $631,000 in March, a 37.7 percent increase. However, there were only 16 sales in Falls Church in March, which likely skewed the numbers.

Similarly, Alexandria showed a big jump in median sale price, going from $391,950 in March 2012 to $487,500 last month. This 24.4 percent increase was more realistic than Falls Church because it was based on 186 sales. (Read More)

Not only have home prices risen, but they’re now easier to sell than ever in the DC area. According to the article new listings are only on the market for an average of 15 days before they’re sold. Must be nice. Something tells me we won’t hear liberals whining about the inequality between the government sector and those who pay for it.