The Washington region’s median price per square foot of housing has grown over the past year at a rate nearly double the national figure, even as overall listing prices have stayed relatively flat.
The Washington region’s median per-square-foot listing price was up 6.3 percent from June 2023 to June 2024, according to figures reported July 9 by Realtor.com. That compares with a 3.4 percent national increase.
Compared to pre-pandemic levels, however, growth rates are staggering – up 59.9 percent in the Washington region and 52.6 percent nationally.
For June, the local region’s median listing price of $635,502 was down 0.7 percent from a year before, while the national median figure of $445,000 was unchanged.
Only a relatively few of the 50 largest metro areas saw year-over-year declines in listing price on a per-square-foot basis. Among them: Austin, Jacksonville, Miami (down a significant 8.4%), New Orleans, San Antonio, San Francisco (down 6%), San Jose and Tampa.
And each of the 50 largest metros posted double-digit increases in per-square-foot listing prices compared to pre-pandemic levels.
