July 31, 2008
DC, Montgomery and Fairfax County Home Prices
Last night at our Red Carpet Event we talked prices. In June and July, homes were generally selling between 96% and 97% of list, but there are some outliers. In Montgomery County, Germantown homes sold at 98.2% of their list price in June and July. In Fairfax County, Springfield prices held tough at 98% of list, while list prices in Great Falls were much softer, with sales going for 92.9% of list. The average price in Great Falls was much higher, at over $1.3 million, and it’s typical to see more price negotiation on expensive homes.
Our next home-buying class is on August 20th, and you can RSVP here. Slides from last night are here.
Full stats are below, and we even broke out home type in Northwest DC, just for fun.
Fairfax County Home Sales, June 1- Jul 27, 2008
| City | # Deals | Final v. List | Average Price |
| Alexandria | 370 | 97.3% | $417,840 |
| Annandale | 114 | 97.8% | $380,832 |
| Burke | 121 | 98.3% | $417,641 |
| Centreville | 171 | 98.2% | $355,980 |
| Chantilly | 60 | 97.4% | $380,923 |
| Clifton | 20 | 96.7% | $605,195 |
| Fairfax | 251 | 97.3% | $471,935 |
| Fairfax Station | 26 | 97.2% | $803,123 |
| Falls Church | 170 | 97.1% | $451,977 |
| Great Falls | 21 | 92.9% | $1,300,095 |
| Herndon | 242 | 97.2% | $353,687 |
| Lorton | 73 | 96.5% | $425,168 |
| Mclean | 127 | 95.9% | $1,108,685 |
| Oak Hill | 23 | 96.7% | $698,065 |
| Oakton | 41 | 96.9% | $679,861 |
| Reston | 160 | 97.4% | $432,643 |
| Springfield | 265 | 98.0% | $392,698 |
| Vienna | 153 | 97.0% | $673,187 |
Montgomery County Home Sales, June 1- Jul 27, 2008
| City | # Deals | Final v. List | Average Price |
| Bethesda | 192 | 97.4% | $856,114 |
| Boyds | 14 | 98.5% | $515,834 |
| Brookeville | 11 | 92.8% | $753,773 |
| Burtonsville | 13 | 97.1% | $314,662 |
| Chevy Chase | 53 | 96.5% | $1,067,040 |
| Clarksburg | 23 | 97.7% | $431,516 |
| Damascus | 15 | 97.5% | $428,864 |
| Derwood | 13 | 95.9% | $445,923 |
| Gaithersburg | 167 | 97.2% | $380,022 |
| Germantown | 158 | 98.2% | $338,095 |
| Kensington | 25 | 96.4% | $544,941 |
| Montgomery Village | 42 | 97.8% | $289,400 |
| North Bethesda | 10 | 97.3% | $539,050 |
| North Potomac | 23 | 96.4% | $635,978 |
| Olney | 36 | 97.3% | $459,133 |
| Poolesville | 5 | 94.8% | $1,103,680 |
| Potomac | 99 | 96.8% | $1,155,437 |
| Rockville | 220 | 96.7% | $522,156 |
| Silver Spring | 327 | 96.9% | $391,311 |
| Takoma Park | 26 | 97.8% | $477,735 |
District of Columbia Home Sales, June 1- Jul 27, 2008
| Area | # Deals | Final v. List | Average Price |
| Northwest DC | 653 | 97.7% | $654,738 |
| Northeast DC | 126 | 96.8% | $381,235 |
| Southwest DC | 84 | 96.7% | $429,979 |
| Southeast DC | 21 | 98.9% | $298,457 |
Sales by Type, District of Columbia Northwest, June 1- Jul 27, 2008
| Type | # Deals | Final v. List | Average Price |
| Attach/Row Hse | 128 | 97.0% | $576,702 |
| Detached | 124 | 97.8% | $1,218,205 |
| Duplex | 4 | 99.8% | $596,500 |
| Garden 1-4 Floors | 100 | 98.5% | $396,227 |
| Hi-Rise 9+ Floors | 88 | 97.0% | $459,783 |
| Mid-Rise 5-8 Floors | 117 | 97.7% | $480,774 |
| Other | 5 | 94.9% | $285,800 |
| Semi-Detached | 49 | 98.1% | $699,349 |
| Townhouse | 34 | 98.2% | $797,134 |
