Home prices may be continuing to rise (if at a modest level) across the local area, but buyers are getting more for their money, at least on a per-square-foot basis, according to new data.
But the per-square-foot cost still varies significantly by locality, with homes in Arlington selling for more than 2.5 times those of equal size in Prince William County.
Figures covering the January-to-August period have been released by MarketStats by ShowingTime, with declines reported in all major Northern Virginia jurisdictions compared to a year before:
• In Arlington, the average per-square-foot cost of $435 for the first eight months of the year was down 7.3 percent from $469 a year before.
• In Falls Church, the cost of $373 was down 14.5 percent from $436.
• In Alexandria, the cost of $368 was down 5.2 percent from $388.
• In Fairfax County, the cost of $280 was down 12 percent from $318.
• In Loudoun County, the cost of $199 was down 11.6 percent from $225.
• In Prince William County, the cost of $169 was down 20.3 percent from $212.
The downward trend was evident in non-Virginia portions of the D.C. metro area, too:
• The average per-square-foot cost of $489 in the District of Columbia was down 8.9 percent.
• The average cost of $247 in Montgomery County was down 16.3 percent.
• The average cost of $181 in Prince George’s County was down 4.7 percent.
For the Mid-Atlantic region as a whole, the average per-square-foot price of $180 was down 23.1 percent from $234 a year ago, according to MarketStats by ShowingTime.