A Little Discount in Metro DC, But Not Much

Last night more than 60 people turned out to Redfin’s McLean office to get the latest on pricing trends and commune with others diving and dipping into the Metro DC real estate market. Thanks to all who attended, especially those in the standing-room only section.

Like always, we has some food and some market data, both of which were consumed hungrily. You can download the slides here, or read on for sale-to-list price data.

Notable is that, despite the market, in Fairfax and Montgomery counties and in DC, prices are holding up. Buyers are getting a slight discount, but for the most part sale-to-list price was 95% and up, meaning the discount is smaller than 5%. McLean, Great Falls VA and Potomac MD show larger discounts to list, but that’s normal for higher-priced homes.

Next Class in Northwest DC on October 1

And I’m happy to say that after many requests, we’re going to do the next class in the district, close to the Metro. No more of the burbs! (Until November, that is.) We’ll be at Buffalo Billiards, 1330 19th Street in DC. We’ll even play you a game, but keep in mind that Redfin agents negotiate better than they play billiards.

So sign up, and come get fresh pricing data and meet the Redfin DC Agent Team, standing by at the ready:

Washington DC Real Estate Agent Team

Washington DC Home Prices by Area, June 17 – August 17, 2008

Area # Deals Final v. List Average Price
Northwest DC 343 97.8% $628,903
Northeast DC 83 97.4% $382,417
Southwest DC 51 96.6% $401,783
Southeast DC 11 95.2% $400,273

Washington DC Home Prices by Home Type, June 17 – August 17, 2008

Type # Deals Final v. List Average Price
Attach/Row Hse 136 97.3% $521,419
Detached 84 96.8% $985,835
Garden 1-4 Floors 60 98.2% $335,940
Hi-Rise 9+ Floors 53 97.8% $387,745
Mid-Rise 5-8 Floors 76 98.6% $448,781
Semi-Detached 38 96.8% $573,425
Townhouse 41 97.6% $537,094

Montgomery County Home Prices, June 17 – August 17, 2008

City # Deals Final v. List Average Price
Bethesda 48 97.2% $859,076
Boyds 4 99.1% $388,357
Chevy Chase 6 96.9% $858,500
Clarksburg 9 98.1% $509,797
Damascus 3 98.6% $354,964
Gaithersburg 55 97.3% $356,465
Germantown 45 98.1% $322,097
Kensington 4 98.1% $463,000
Montgomery Village 9 97.4% $261,089
North Bethesda 4 98.3% $739,500
Olney 16 96.5% $463,681
Rockville 53 95.8% $516,019
Silver Spring 93 96.7% $379,651
Takoma Park 7 99.0% $469,286
Burtonsville 7 97.3% $316,700
Derwood 4 94.2% $458,750
North Potomac 7 96.9% $469,129
Potomac 23 94.6% $1,187,370

Fairfax County Home Prices, June 17 – August 17, 2008

City # Deals Final v. List Average Price
Alexandria 242 97.2% $405,202
Annandale 79 98.2% $341,086
Burke 65 97.7% $407,912
Centreville 108 98.2% $364,926
Chantilly 27 98.7% $410,371
Fairfax 120 97.0% $459,455
Falls Church 126 96.8% $397,655
Herndon 120 98.3% $330,202
Lorton 47 98.5% $356,367
Mclean 72 95.3% $1,061,279
Oakton 34 97.5% $708,478
Reston 83 96.9% $411,189
Springfield 151 97.2% $371,794
Vienna 88 97.3% $651,039
Oak Hill 14 97.2% $591,071
Clifton 10 96.4% $651,235
Fairfax Station 14 97.7% $732,464
Great Falls 20 94.7% $1,011,500