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Median price for D.C. single-family home grows by double-digit percentage in one year

New data indicate significant increases in home prices since March 2018

Rowhouses in Capitol Hill

Buying a home in the District seems to be increasingly out of reach for many residents. Data released Wednesday by the office of the D.C. Chief Financial Officer show that median home prices for detached single-family homes as well as attached townhouses went up by double-digit percentages from March 2018 to March 2019. The median price for a detached single-family home grew 10.9 percent, to $809,500, while that for a townhouse grew 11.9 percent, to $752,300. The median price for a condo or co-op unit also rose 0.6 percent, to $483,000.

The District pulled the data from the Greater Capital Area Association of Realtors. This past March, the number of completed real estate contracts was significantly up as compared with March 2018: Those for single-family homes (both detached and townhouses) ballooned 7.6 percent, to 495, and those for condo and co-op units increased 9.3 percent, to 469. The data:

Housing and office space data in the District’s May 2019 economic indicators report
D.C. Office of the Chief Financial Officer

The District isn’t alone among D.C. area jurisdictions in seeing a boost in home prices. In Arlington, the median list price has surged by more than $100,000 since November, when Amazon said it would move to Northern Virginia, according to listings service