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Thursday, January 27, 2022
ArlingtonReal EstatePer-square-foot home costs keep rising across region

Per-square-foot home costs keep rising across region

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Home-buyers across the Washington region continue to pay record amounts for each square foot they purchase, according to new data, with the difference from one jurisdiction to the next often being significant.

All but two of the nine major localities across the D.C. region saw higher year-over-year per-square-foot costs for real estate in the January-to-November period compared to the same time frame in 2020, according to MarketStats by ShowingTime, based on listing data from Bright MLS.

The increases varied from 2.6 percent percent to more than 33 percent, with a decline reported in the District of Columbia and no change in Alexandria.

Leading the pack, as long has been the case, was D.C., where the typical home sale during the 11-month period worked out to $559 per square foot. While in the lead by a substantial margin, that’s down 5.3 percent from $590 during the same period in 2020.

Among Northern Virginia localities:

• In Falls Church, the per-square-foot cost of $462 was up 33.1 percent from $347.

• In Arlington, cost of $437 was up 2.6 percent from $426.

• In Alexandria, the cost of $380 was unchanged from the same period a year before.

• Fairfax County a boost of 4.8 percent, from $316 to $331.

• Loudoun County posted a 16.7-percent increase from $245 to $286.

• Prince William County stood at $225, up 7.7 percent from $209.

Moving to Maryland, the median per-square-foot figure of $287 in Montgomery County was up 4.7 percent from $274, and the $231 figure for Prince George’s County was up 13.2 percent from $204.

Year-end 2021 figures should be available in mid-January.

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