This piece ran in the Washington Business Journal in the Nov. 17, 2017 edition. The graphic was prepared by the Washington Business Journal using data supplied by the Institute.
The average sales price in the Washington region was $466,430 for existing homes sold between January and October 2017. Compared to the same period in 2016, prices increased 4.0 percent, marking the largest gain since 2013. Through October 2017, the average price of a home in Suburban Maryland increased 3.9 percent but was 11.7 percent lower than during the peak in 2007. Prices for existing homes in both the District and Northern Virginia increased 3.7 percent through October 2017 compared to the same period in 2016. Prices in Northern Virginia were 1.9 percent lower than their 2006 peak while the District exceed its 2008 peak by 23.8 percent.