Findings touted a rejuvination of the Washington suburban real estate market mirroring the District's seller's market.
The good news for Montgomery County is that prices for townhomes and condos are through the roof--up 9 and 7.3 percent, respectively, over 2011. Townhouses are averaging more than $300,000 per unit, while condos go for around $250,000.
Townhomes are to be popping up along the seams of Potomac as well. But in the area well known for its single family houses and green, rural vistas, prices are closer to the million dollar range.
The only jurisdiction that saw a higher percentage change in townhouse prices than Montgomery was Frederick County. Prince George's County and Stafford County, VA, beat Montgomery County in townhome percentage change prices.
Single-family homes, though, didn't fare as well. Montgomery is one of only two suburban jurisdictions that saw prices for those dwellings fall from 2011 to 2012. (Alexandria, VA, also saw a drop in single-family prices.) The average price is just under $600,000 now, down from about $613,000 last year, a negative 2.5 percent change.
Still, the future looks bright for home sellers in the 'burbs:
Demand has spread to the suburbs, including some of the region’s most distant suburbs. Even with rising gas prices, demand for suburban living continues, and lower housing costs and suburban job growth will continue fuel the suburban housing market.
Head to the Washington Post for more findings.