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D.C., Montgomery County housing prices jump

Washington Business Journal - by Jeff ClabaughDate: Wednesday, February 16, 2011, 2:03pm ESTSingle-family housing prices in the District and Montgomery County were up significantly from a year ago last month, though the condominium prices were mixed.The Greater Capital Area Association of Realtors says the median price of a single-family home in D.C. was $399,000 in January, up nearly 14.2 percent from a year earlier. The number of listings was little changed, while the number of settlements was also up more than 14 percent.D.C. condo prices were up just 1.44 percent from a year earlier, to a median price of $347,950.In Montgomery County, the median price of a single-family home was up 16.64 percent from January 2010 to $414,000. The number of listings was up 12.5 percent, while settlements were down 5.6 percent from a year earlier.Median condo prices were down 10.42 percent from January 2010 in Montgomery County, to $172,000."The residential housing market in the metro area has been picking up steam over the past nine months," said GCAAR President Adrian Hunnings. "As buyers and sellers prepare for the spring market, we will begin to see how the recovery of the housing market will take shape in 2011."The absorption rate, or the number of active listings divided by the number of contracts, shows supply remains below 6 months at the current pace of selling in both D.C. and Montgomery County, a level the Realtors group says is consistent with a healthy market.

Help! Planing to buy a single or town home.


Now is a great time to buy (for so many reasons).I have done a lot of work in your area and would love to help you buy your first home!  We work with an amazing team of lenders, too.Just contact me and we can get started.  You can also check-out my website to see my testimonials.Thanks,Peggy Lyn SpeicherThe Speicher Team

i would like a property qoute


Bill,This would give you a very rough idea:, to get an accurate quote, we would need more information.If you would like our help, we would be glad to assist.Thanks,Peggy Lyn SpeicherThe Speicher Team

regarding my tax question......


Generally, when buying a home, the property tax (at least for the first few years) is based on a percentage of the purchase price of the home.  For example, if the property tax percentage is 3% and the home is purchased for $300K, the annual property tax would be $9K, or $750 per month.I hope that helps!