Washington, DC - Local Housing Data - Summary

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Washington, Arlington, Alexandria, DC, VA, MD, WV

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Washington, DC Local News

  • America's Richest Counties 2014

    Want to live the good life? Move to Washington, D.C. Or, specifically, to its suburbs. Six of America's 10 wealthiest counties lie within a stone's throw of the Beltway. Forbes staffer Tom Van Riper spins the rankings.

  • Limits on Deportations Considered by Homeland Security

    Washington Post staffer Josh Hicks reports that Homeland Security Secretary Jeh Johnson is weighing the option of limiting deportations of illegal U.S. immigrants who don't have serious criminal records, but activists are calling on the Obama administration to go further than that.

  • Why Do We Punish Couples Who Get Married With More Taxes?

    Washington Post staffer Catherine Rampell calculates the "marriage penalty" (and rarely, "marriage bonus").

Recent Figures Show New Home Prices Increase, Sales Fall in Washington DC

Posted on: Apr 06, 2014 07:45:15 AM

In the Washington, DC market in December, new home closings fell year-over-year, but the market seemed to be suggesting improvement with a percentage drop less steep than in November 2013. Closings went from 1,214 in December 2012 to 1,204 in December 2013. This came on the heels of a 5.7% decline in November from the year earlier.

A total of 11,438 new homes were sold during the 12 months that ended in December, down from 11,448 for the year that ended in November.

Out of all housing closings, new home closings represented 17.1%. A year ago, 17.3% of total closings were new home closings. Closings of new and existing homes remained steady in December after falling in November year-over-year.

Pricing and Mortgage Trends

The average price of new homes was $508,464 per unit in December, up 2.2%from a year earlier. This gain is higher than the 1.2% boost in November year-over-year.

For newly sold homes, the average mortgage size dropped year-over-year in contrast to average price of new homes. It fell 1.4% in December from a year earlier, reaching $419,354. Average mortgage size went from $417,700 in November 2012 to $420,761 in November 2013.


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