Home-buyers continue to pay more, on a per-square-foot basis, for existing homes than they were a year before, according to new data.
All major jurisdictions across the Washington area show increases in year-to-date per-square-foot costs, according to figures reported Sept. 13 by MarketStats by ShowingTime, based on listing data from Bright MLS.
Leading the pack, as usual, was the District of Columbia, where the per-square-foot cost stood at $549 for the first eight months of the year, up 10 percent from $499 in 2020.
It was followed by three localities that broke the $400 barrier: Arlington ($463, up 2.2 percent from $453); Falls Church ($417, up 6.1 percent from $392); and Alexandria ($414, up 4.6 percent from $396).
Among other Northern Virginia jurisdictions, Fairfax County recorded a per-square-foot cost of $318, up 10 percent from $289 a year before; Loudoun County reported a cost of $239, up 14.4 percent from $209; and Prince William’s per-square-foot cost of $203 was up 16 percent from $175.
In the Maryland suburbs, Montgomery County posted an 11.6-percent increase to $280 and Prince George’s County saw a 16.8-percent rise to $222.
Across the Mid-Atlantic region, which encompasses more than 70 localities over multiple states, the average per-square-foot cost for existing homes over the first eight months of the year was $215, up 15.6 percent from $186 a year ago.