Some home-sellers across parts of the Washington received more, others less, on a per-square-foot basis, for properties sold in the first quarter of 2023 compared to the first quarter of 2022.
Of the eight major jurisdictions across the region (and also counting the city of Falls Church as it falls close to the GazetteLeader’s coverage area), average home-sale prices on a per-square-foot basis were up in four, down in four and unchanged in one.
That’s according to figures reported by MarketStats by ShowingTime based on listing activity from Bright MLS, as analyzed by the GazetteLeader.
In general in the month’s report, the pricier a locality tends to be, the more likely it saw a year-over-year dip in per-square-foot average prices.
Leading the per-square-foot pack, as it usually does, was the District of Columbia, where homes sold during the January-February-March period garnered an average $510 for each and every square foot. But that was down 5.6 percent from $540 from the same period a year before.
Arlington, which traditionally comes in second, saw an even larger drop, down 6.3 percent from $490 to $459.
Alexandria’s per-square-foot price of $439 was up 1.9 percent from $431, but the average per-square-foot cost of homes sold in Falls Church was down 1.8 percent from $438 to $430, while in Fairfax County, the decline was 1.2 percent from $336 to $332.
Montgomery County saw an increase of 1.7 percent from $294 to $299, while Loudoun County was unchanged at $269.
Prince George’s County posted an increase of 1.3 percent from $235 to $238, while Prince William County showed an increase of 0.4 percent from $223 to $226.
For the Mid-Atlantic as a whole, the median per-square-foot sales price was up 0.4 percent – a single dollar – from $226 to $227.
Figures represent most, but not all, homes on the market. March 2023 data are preliminary and subject to revision.
