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DC Area Home Prices Up in 2009

  • February 11th 2010

by Mark Wellborn

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DC Area Home Prices Up in 2009: Figure 1

The DC area saw an almost 4 percent increase in housing prices from 2008 to 2009, according to a report from the National Association of Realtors (NAR).

According to The Washington Business Journal, the report noted that single-family home sales prices were up $11,100 from an average price of $295,100 at the end of 2008 to $306,200 in 2009. Condo prices actually fell slightly to a median price of $239,000.

More on the report from the WBJ:

In the District, housing sales were up by 56 percent from a year earlier. Existing home sales in Maryland were up by 47.9 percent, while sales in Virginia were up by 12.5 percent from a year ago.

NAR chief economist Lawrence Yun attributed the all-around positive news to the federal tax credit and low interest rates.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/dc_area_home_prices_up_in_2009/1772.

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