The year-over-year price-growth rate among existing condominiums during the third quarter in the Washington region was slightly higher than the national average, according to new data from the National Association of Realtors.
The median sales price of $301,000 in Washington and environs was up 3.9 percent from a year before, compared to a national growth rate of 3.4 percent (to $252,000), according to the new data.
About 60 metropolitan areas are included in the quarterly survey of condo markets. About 83 percent saw year-over-year price increases, with six markets showing double-digit increases.
Among the various geographic corridors of the nation, the median condo price for the third quarter stood at $370,000 in the West, up 1.5 percent; $302,200 in the Northeast, up 3.8 percent; $194,100 in the South, up 5.5 percent; and $185,500 in the Midwest, up 3.7 percent.