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Wednesday, August 10, 2022
ArlingtonReal EstateSales prices of local condos growing, but slowly

Sales prices of local condos growing, but slowly

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The Washington region’s year-over-year home-value appreciation in the condominium sector for the third quarter of 2021 was the lowest of all metro areas tracked in a quarterly survey.

The median condo sales price of $338,100 was up just 0.8 percent from the third quarter of 2020, according to data reported by the National Association of Realtors. (No market in the study posted a year-over-year decline.)

Nationally, the median sales price of a condominium in the July-August-September period at $303,000, up 11.6 from a year before.
Among the four geographic areas of the country:

• The median sales price in the Northeast was $356,000, up 11.7 percent.
• The median sales price in the Midwest was $218,400, up 10.2 percent.
• The median sales price in the South was $243,900, up 13.3 percent.
• The median sales price in the West was $457,500, up 15.3 percent.

Nationally, the highest median sales price was recorded in San Francisco, up 6.3 percent to $919,400.

Outside the Washington region, the only Virginia metropolitan area in the condominium listing was Richmond; its median sales price of $309,000 was up 12.8 percent.

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