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DC-Area Home Prices Rose Across The Board in October

  • November 14th 2023

by UrbanTurf Staff

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A two-bedroom condo on Capitol Hill that sold in October. 

Home prices in the DC area rose virtually everywhere in October. 

With a low inventory of homes for sale and 8% interest rates as headwinds, the market was seasonably slower in October, per a new report from Bright MLS. But one thing that remains high, and continues to increase, are housing prices. 

"The median price in October was $568,000, 3.3% higher than a year ago, and up 3.3% compared to a month ago," the report stated. "Home prices peaked during the summer, which is a typical seasonal pattern. However, prices have now been up year-over-year for five consecutive months."

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Click to enlarge.

Prices weren't just up in the region as a whole, but in every jurisdiction that Bright MLS covers. Prices rose by double digit percentage points in Falls Church and Arlington compared to last October, while Montgomery County, Frederick County and Prince George's County all saw notable price increases as well. 

Photo courtesy of Derek and Vee.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/dc-area_home_prices_rose_across_the_board_in_october/21684.

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