The median sales price of condominiums across the Washington area during the first quarter of 2019 rose 3 percent – higher than the rate of increase for single-family homes in the region and on par with the year-over-year increase recorded at the national level.
With a median condo sales price of $308,900 in the April-to-June period, the rate of increase from a year before was 3.7 percent in the Washington area, slightly above the 3.6-percent increase (to $255,400) recorded in markets across the U.S. surveyed by the National Association of Realtors.
All areas of the country reported year-over-year growth, although the percentage increase was lowest in the West, which tends to have the priciest real estate of all kinds and in some markets is seeing affordability issues return to the fore.
The highest median sales price for condominiums during the quarter was reported in the San Francisco metro area, at $867,300 (down 3 percent). It was followed by Los Angeles ($473,900, down 1.4 percent), Boston ($453,700, up 4.8 percent), San Diego ($436,000, up 1 percent); and Honolulu ($428,400, up 1.6 percent).
On the other side of the scale were two North Carolina metro areas: Greensboro ($84,700, up 3.8 percent) and Winston-Salem ($88,000, up 7.2 percent).