Home-buyers across the Washington region continue to pay near-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 nine major localities across the D.C. region saw higher year-over-year per-square-foot costs for real estate in the January-to-October 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 less than 2 percent to more than 17 percent, with lower-priced localities seeing the highest boost.
Leading the pack, as long has been the case, was the District of Columbia, where the typical home sale during the 10-month period worked out to $546 per square foot. That’s a 7.7-percent increase from the same period in 2020.
A trio of Virginia localities also saw per-square-foot costs of more than $400:
• In Arlington, the per-square-foot cost of $462 was up 1.8 percent from $454.
• In Falls Church, the cost of $418 was up 6.1 percent from $394.
• In Alexandria, the cost of $413 was up 3.8 percent from $398.
As the localities fan out from the core area, average prices decline but show more robust rates of growth:
• In Fairfax County, the per-square-foot cost of $317 was up 8.6 percent from $292.
• In Montgomery County, the cost of $280 was up 11.6 percent from $251.
• In Loudoun County, the cost of $241 was up 13.7 percent from $212.
• In Prince George’s County, the cost of $223 was up 15 percent from $194.
• In Prince William County, the cost of $204 was up 17.4 percent from $172.
Across the Mid-Atlantic region as a whole, encompassing more than 70 jurisdictions from Pennsylvania to Virginia, the average per-square-foot cost for the first 10 months of the year stood at $215, up 13.8 percent $189.