Housing costs in the Washington, D.C. market are high, particularly for those who want to buy, but the Washington metro doesn’t even crack the Top 10 for expensive homes currently.
Based on median selling prices of single-family homes in the second quarter, the National Association of Realtors ranks the Washington metro as only the 13th-most expensive housing market in the nation.
The median price of what sold in the Washington region in the second quarter was $465,000, up 3% from the second quarter of 2018. Compared to the second quarter of 2016, that is almost $75,000 more than three years ago.
Topping the list remains San Jose, California, where the median price of what is selling is up almost $310,000 more than it was three years ago.
National Association of Realtor data said the median price of a sale in San Jose in the second quarter was $1.33 million. While by far the highest-median price in the nation, it is down 5.3% from a year ago.
San Francisco remains the second-most expensive housing market, but prices there too are falling. In the second quarter, the median selling price in San Francisco was $1.05 million, down 1.9% from the second quarter last year.
Anaheim, California ($835,000), Honolulu ($785,500) and San Diego ($655,000) round out the top five most expensive housing markets in the second quarter.
These numbers are for single-family homes, and don’t include condominium or cooperative sales.
The other cities that are more expensive than the Washington metro are Boulder, Colorado; Los Angeles; Seattle; Boston; Nassau County, New York; Denver; and Stamford, Connecticut.
The cheapest housing market in the nation, based on second quarter median selling prices, is Decatur, Illinois, where the median price last quarter was just $97,500.
The median price of a single-family home that sold nationally in the second quarter was $279,600, up 4.3% from a year ago.
See the 65 most expensive second quarter home sales from the National Association of Realtors.
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