Are single-family houses in Montgomery County less sellable than townhouses and condos? Maybe, at least according to an analysis of real estate prices from the last two years that The Washington Post has published.
Findings touted a rejuvenation of the Washington, DC, suburban real estate market that was somewhat mirroring DC's seller's market.
The good news for Montgomery County is that prices for townhouses and condos are through the roof—up 9 and 7.3 percent, respectively, over 2011 prices. Townhouses are averaging more than $300,000 per unit, while condos go for around $250,000. The only jurisdiction that saw a higher percentage change in townhouse prices was Frederick County. Prince George's County and Stafford County, VA, beat Montgomery County in townhouse percentage change prices.
Single-family houses didn't fare as well, however. Montgomery is one of only two suburban jurisdictions that saw prices for those dwellings fall from 2011 to 2012. (Alexandria, VA, also saw a drop in single-family house prices.) The average price is just under $600,000 now, down from about $613,000 last year, a negative 2.5 percent change.
Still, the future looks bright for house sellers in the 'burbs:
Demand has spread to the suburbs, including some of the region’s most distant suburbs. Even with rising gas prices, demand for suburban living continues, and lower housing costs and suburban job growth will continue fuel the suburban housing market.