The housing market was hurt early by the longest government shutdown in history, which lasted until late January. Mortgage rates threatened to rise to 5 percent. A scarcity of homes for sale pushed prices higher. Rising mortgage rates and prices hurt affordability.
As the year wore on, conditions improved. The biggest factor was mortgage rates. The 30-year fixed-rate average started the year at 4.5 percent, fell below 4 percent in May and sank to 3.5 percent in September, according to Freddie Mac’s survey of lenders. Earlier this month, the 30-year fixed rate hit a new low of 3.29 percent. It has since gone back up.
“The D.C. regional housing market continues to see robust demand that is only tempered by low inventories near our major employment centers and prices that keep many would-be homeowners on the sidelines,” wrote Terry L. Clower, director of the Center for Regional Analysis at George Mason University, in an email. “Mortgage interest rates are very supportive, but we simply don’t have enough product to offer, other than high-end condos that are coming to market.”
Clower says the impact of the coronavirus will depend on how long the region is shut down.
“If the contagion cycle can be brought under control inside of 60 to 90 days, I think we will pretty quickly get back on track,” he wrote. “If the virus takes longer to contain, and/or triggers a broader recession in the national economy, then housing market activity will slow. However, this is not the [Great Recession]. Housing prices in the region have been growing on average, but at a comparably modest pace. There should not be a collapse of housing prices.”
District of Columbia
The median price of a single-family house increased to $660,000 in 2019 from $626,500 in 2018. The median price of a condo increased to $462,000 in 2019 from $460,000 in 2018. Sales of single-family houses decreased to 3,439 in 2019 from 4,030 in 2018. Sales of condos decreased to 5,202 in 2019 from 5,205 in 2018.
| Zip | Location | 2018 price | 2019 price | 2018 sales | 2018 sales |
| 20001 | Howard University, Shaw | $800,000 | $808,700 | 205 | 225 |
| 20002 | Capitol Hill | $685,000 | $699,000 | 638 | 659 |
| 20003 | Capitol Hill South | $845,000 | $850,000 | 293 | 265 |
| 20007 | Georgetown, Burleith | $1,250,000 | $1,330,000 | 309 | 298 |
| 20008 | Woodley Park, Cleveland Park | $1,500,000 | $1,550,000 | 149 | 126 |
| 20009 | Dupont Circle | $1,050,000 | $1,050,000 | 98 | 105 |
| 20010 | Columbia Heights, Mount Pleasant | $756,750 | $775,000 | 168 | 182 |
| 20011 | 16th Street Heights, Crestwood | $605,000 | $635,250 | 766 | 787 |
| 20012 | Colonial Village, Takoma | $731,000 | $725,000 | 144 | 179 |
| 20015 | Friendship Heights, Chevy Chase | $1,056,702 | $1,100,000 | 175 | 214 |
| 20016 | Cathedral Heights, AU Park | $1,200,000 | $1,275,000 | 282 | 279 |
| 20017 | Brookland, Catholic University | $560,000 | $585,000 | 247 | 293 |
| 20018 | Brentwood, Fort Lincoln | $550,000 | $585,255 | 310 | 336 |
| 20019 | Benning Heights, Deanwood | $305,000 | $335,000 | 718 | 665 |
| 20020 | Anacostia, Hillcrest | $351,431 | $369,000 | 379 | 348 |
| 20024 | Southwest Waterfront | $855,000 | $785,000 | 17 | 19 |
| 20032 | Congress Heights | $312,500 | $335,000 | 286 | 199 |
| 20037 | West End, Foggy Bottom | $859,000 | $846,500 | 17 | 13 |
| Source: Black Knight | |||||
The District again enjoyed the largest median price gain in single-family houses in the region last year, according to data provided by Black Knight, a national real estate analytics company. Prices improved to $660,000 in 2019 from $626,500 in 2018. Median price is not the same as average price. The median price represents the midpoint, meaning half the houses were sold for more than that price and half sold for less.
D.C. condo prices ticked up to $462,000 in 2019 from $460,000 in 2018. Condo prices are separated from single-family house prices to provide a more accurate picture of the market. Condos tend to be less expensive than houses and can drag down the median price.
“Housing prices in the District of Columbia continue to rise and the gains are spreading to areas of the city that are not traditional hot spots,” Clower wrote. “There are new amenity-rich offerings coming online, if you have relatively high incomes. Gentrification is still happening, even with efforts at preserving affordable housing units for District residents. Local housing policies continue to be a major challenge as leaders seek to balance opportunities for growth against displacement of long-time, lower-income residents. As Amazon begins to really ramp up HQ2 hiring, the District’s newer high-amenity properties will be the biggest gainers.”
Arlington County
The median price of a single-family house increased to $905,000 in 2019 from $841,820 in 2018. The median price of a condo increased to $430,000 in 2019 from $425,000 in 2018. Sales of single-family houses decreased to 1,244 in 2019 from 1,323 in 2018. Sales of condos decreased to 1,718 in 2019 from 2,061 in 2018.
| Zip | Location | 2018 price | 2019 price | 2018 sales | 2019 sales |
| 22201 | Ashton Heights, Clarendon | $1,125,000 | $1,150,000 | 139 | 130 |
| 22202 | Aurora Hills, Crystal City | $825,000 | $910,000 | 87 | 57 |
| 22203 | Ballston | $780,000 | $815,000 | 77 | 64 |
| 22204 | South Arlington | $645,000 | $630,000 | 263 | 235 |
| 22205 | Westover | $858,000 | $895,000 | 214 | 210 |
| 22206 | Shirlington | $450,000 | $537,755 | 41 | 37 |
| 22207 | North Arlington | $960,000 | $1,085,000 | 455 | 466 |
| 22213 | Arlington | $800,000 | $900,000 | 43 | 44 |
| Source: Black Knight | |||||
Alexandria
The median price of a single-family house increased to $760,000 in 2019 from $730,750 in 2018. The median price of a condo increased to $350,000 in 2019 from $335,000 in 2018. Sales of single-family houses decreased to 844 in 2019 from 1,025 in 2018. Sales of condos decreased to 1,657 in 2019 from 1,899 in 2018.
| Zip | Location | 2018 price | 2019 price | 2018 sales | 2019 sales |
| 22301 | Del Ray, Rosemont | $794,900 | $865,000 | 181 | 158 |
| 22302 | Braddock Heights | $788,000 | $839,500 | 123 | 103 |
| 22304 | Landmark, Cameron Station | $618,000 | $625,000 | 224 | 183 |
| 22305 | Beverly Hills, Warwick | $624,900 | $652,000 | 140 | 113 |
| 22311 | Stonegate | $640,000 | $635,000 | 39 | 35 |
| 22312 | Pinecrest, Overlook | $490,000 | $510,000 | 22 | 11 |
| 22314 | Old Town | $835,000 | $838,000 | 296 | 241 |
| Source: Black Knight | |||||
Virginia had the next-greatest increase in single-family house prices, climbing to $595,000 in 2019 from $579,950 in 2018. Virginia condo prices increased to $376,500 in 2019 from $369,000 in 2018.
“Northern Virginia just keeps on chugging,” Clower wrote. “Prices rise, but affordability is a constraint on price growth. Arlington and Alexandria are exploding. [There is] a growing volume of political discourse [and] a variety of approaches for expanding housing opportunities for more families, but there simply is not enough inventory to meet demand for workers who do not wish to spend large chunks of their personal time sitting in a car or public transit conveyance. The same challenge, at slightly lower intensity, applies to the first outer-ring suburbs in Northern Virginia.”
Montgomery County
The median price of a single-family house increased to $579,500 in 2019 from $575,000 in 2018. The median price of a condo increased to $309,900 in 2019 from $306,000 in 2018. Sales of single-family houses increased to 7,235 in 2019 from 7,192 in 2018. Sales of condos decreased to 5,647 in 2019 from 6,203 in 2018.
| Zip | Location | 2018 price | 2019 price | 2018 sales | 2018 sales |
| 20814 | Bethesda | $950,000 | $923,000 | 207 | 211 |
| 20815 | Chevy Chase | $1,175,000 | $1,110,000 | 241 | 290 |
| 20816 | Bethesda | $1,010,000 | $1,050,000 | 185 | 189 |
| 20817 | Bethesda | $920,000 | $945,000 | 451 | 497 |
| 20818 | Cabin John | $1,075,000 | $880,000 | 23 | 19 |
| 20832 | Olney | $555,000 | $565,000 | 187 | 202 |
| 20833 | Brookeville | $600,000 | $640,000 | 121 | 102 |
| 20837 | Poolesville | $580,000 | $524,000 | 89 | 87 |
| 20841 | Boyds | $620,000 | $670,000 | 90 | 87 |
| 20850 | Rockville | $650,000 | $675,000 | 216 | 237 |
| 20851 | Rockville | $375,000 | $399,999 | 140 | 165 |
| 20852 | Rockville | $705,000 | $580,000 | 171 | 173 |
| 20853 | Rockville | $468,000 | $472,000 | 340 | 345 |
| 20854 | Potomac | $907,000 | $925,000 | 535 | 562 |
| 20855 | Derwood | $508,000 | $525,000 | 131 | 135 |
| 20866 | Burtonsville | $557,590 | $490,000 | 119 | 90 |
| 20871 | Clarksburg | $610,330 | $575,600 | 299 | 170 |
| 20872 | Damascus | $393,000 | $400,000 | 118 | 124 |
| 20874 | Germantown | $528,000 | $520,000 | 194 | 171 |
| 20876 | Germantown | $530,000 | $500,000 | 142 | 147 |
| 20877 | Gaithersburg | $420,000 | $425,000 | 119 | 114 |
| 20878 | Gaithersburg, North Potomac | $668,000 | $673,000 | 391 | 355 |
| 20879 | Gaithersburg | $425,000 | $437,500 | 146 | 112 |
| 20882 | Gaithersburg | $580,000 | $592,500 | 161 | 177 |
| 20886 | Montgomery Village | $449,000 | $441,000 | 110 | 106 |
| 20895 | Kensington | $625,000 | $640,000 | 262 | 316 |
| 20896 | Garrett Park | $695,000 | $758,000 | 15 | 13 |
| 20901 | Silver Spring | $475,000 | $474,900 | 356 | 343 |
| 20902 | Silver Spring | $420,000 | $429,900 | 383 | 384 |
| 20903 | Silver Spring | $400,000 | $424,900 | 81 | 77 |
| 20904 | Silver Spring | $450,000 | $469,990 | 279 | 273 |
| 20905 | Silver Spring | $485,000 | $500,000 | 200 | 181 |
| 20906 | SIlver Spring | $415,000 | $415,000 | 349 | 383 |
| 20910 | Silver Spring | $610.000 | $610,000 | 205 | 242 |
| 20912 | Takoma Park | $555,000 | $595,000 | 132 | 154 |
| Source: Black Knight | |||||
Maryland single-family house prices modestly rose to $398,000 in 2019 from $392,000 in 2018. Maryland condo prices slipped to $280,000 in 2019 from $282,800 in 2018.
“Even with some challenges in job growth in 2019, the Maryland suburbs continued to see gains in house prices and this will continue through 2020, absent major impacts of the spread of [the coronavirus],” Clower wrote. “The challenge for Montgomery County remains finding ways to get new inventory that is not top-of-market in price. Prince George’s County is still the best value for homeowners in the region with continuing improvement in amenities and services to go along with comparatively affordable prices.”
The District had five Zip codes where the median price of a single-family house was above $1 million in 2019: 20007 (Burleith, Foxhall Crescent, Georgetown, Massachusetts Avenue Heights, Glover Park) at $1.3 million; 20008 (Cleveland Park, Woodley Park, Van Ness, Kalorama) at $1.6 million; 20009 (Adams Morgan, Dupont Circle, Kalorama, Lanier Heights) at $1.1 million; 20015 (Barnaby Woods, Chevy Chase) at $1.1 million; and 20016 (AU Park, Cathedral Heights, Friendship Heights, Wesley Heights, Tenleytown, Spring Valley and Palisades) at $1.3 million. More than a quarter of the homes sold in the District last year — nearly 22 percent of the single-family houses and 5 percent of the condos — were for more than $1 million.
Virginia had five Zip codes where the median price of a single-family house was above $1 million in 2019: 22201 (Clarendon, Ballston, Lyon Village, Lyon Park) at $1.2 million; 22207 (Cherrydale, Crescent Hills, Woodmont, North Arlington) at $1.1 million; 22066 (Great Falls area) at $1 million; 22101 (McLean) at $1.2 million; and 22102 (McLean) at $1.2 million.
Maryland had two Zip codes where the median price of a single-family house was above $1 million in 2019: 20815 (Chevy Chase area) at $1.1 million and 20816 (Bethesda area) at $1.1 million.
“One thing we seem to sometimes forget in talking about this region is the wide range of lifestyle options our housing market supports,” Clower wrote. “There are commuting and price trade-offs, but we have: ultra-hip urban; transit-focused live-work-play; traditional single-family suburbs; quaint towns with centuries of history; semi-rural; and everything in between. I think we should be doing more to emphasize the breadth of options that we can offer new and existing residents, while still working to address overall housing affordability and availability.”
Prince George's County
The median price of a single-family house increased to $329,900 in 2019 from $310,000 in 2018. The median price of a condo increased to $250,000 in 2019 from $240,000 in 2018. Sales of single-family houses decreased to 8,272 in 2019 from 8,994 in 2018. Sales of condos decreased to 4,413 in 2019 from 5,121 in 2018.
| Zip | Location | 2018 price | 2019 price | 2018 sales | 2019 sales |
| 20607 | Accokeek | $384,000 | $375,000 | 291 | 183 |
| 20613 | Brandywine | $360000 | $363,000 | 294 | 233 |
| 20623 | Cheltenham | $315,187 | $350,000 | 45 | 30 |
| 20705 | Beltsville | $364,000 | $360,000 | 231 | 218 |
| 20706 | Lanham | $300,000 | $320,000 | 417 | 354 |
| 20707 | Laurel | $349,500 | $355,000 | 192 | 237 |
| 20708 | Laurel | $365,000 | $379,000 | 132 | 125 |
| 20710 | Bladensburg | $270,000 | $289000 | 32 | 30 |
| 20712 | Mount Rainier | $365,000 | $368,750 | 56 | 69 |
| 20715 | Bowie | $335,000 | $350,000 | 453 | 410 |
| 20716 | Bowie | $342,500 | $350,000 | 229 | 209 |
| 20720 | Bowie | $448,875 | $460,000 | 385 | 303 |
| 20721 | Bowie | $420,000 | $450,000 | 274 | 237 |
| 20722 | Brentwood | $255,000 | $303,250 | 86 | 74 |
| 20735 | Clinton | $299,000 | $316,000 | 570 | 582 |
| 20737 | Riverdale | $278,100 | $300,000 | 164 | 133 |
| 20740 | College Park | $320000 | $355,000 | 261 | 257 |
| 20743 | Capitol Heights, Fairmont Heights | $207000 | $232,000 | 623 | 565 |
| 20744 | Fort Washington | $310000 | $325,000 | 743 | 750 |
| 20745 | Oxon Hill | $235000 | $275,000 | 204 | 186 |
| 20746 | Suitland | $240000 | $268,000 | 207 | 165 |
| 20747 | District Heights | $239950 | $250,000 | 311 | 318 |
| 20748 | Temple Hills | $269000 | $285,000 | 373 | 367 |
| 20769 | Glenn Dale | $389995 | $400,000 | 85 | 98 |
| 20770 | Greenbelt | $392000 | $385,000 | 27 | 35 |
| 20772 | Upper Marlboro | $360000 | $360,000 | 704 | 640 |
| 20774 | Upper Marlboro | $370000 | $400,000 | 611 | 496 |
| 20781 | Hyattsville | $300000 | $340,000 | 130 | 95 |
| 20782 | Hyattsville | $380000 | $365,000 | 167 | 175 |
| 20783 | Hyattsville | $330000 | $350,000 | 190 | 224 |
| 20784 | Hyattsville | $270000 | $290,000 | 271 | 250 |
| 20785 | Hyattsville | $285000 | $311,000 | 213 | 195 |
| 20912 | Takoma Park | $319000 | $352500 | 12 | 14 |
| Source: Black Knight | |||||
Sales were down across the region, with the exception of single-family house sales in Virginia. The fewer transactions were due in large part to the dearth of homes for sale. The slight uptick in Virginia sales is likely attributable to Amazon’s announcement that it would be locating its second headquarters there.
“The surge in housing market speculation in Arlington and Alexandria in the months after the HQ2 announcement have subsided some, but these jurisdictions remain the tightest in the region for inventory,” Clower wrote. “So far, it appears, anecdotally, that D.C. is winning the battle for ‘cool’ places to live, if you are going to be an HQ2 employee. Amazon housing market effects will likely shift towards the [suburbs] over time, but for the next couple of years D.C., Arlington and Alexandria will see the biggest impacts.”
Sales of single-family houses in the District was essentially flat, slipping to 5,202 in 2019 from 5,205 in 2018. Condo sales fell to 3,439 from 4,030.
Maryland single-family house sales dropped to 31,847 from 33,460. Maryland condo sales fell to 19,174 from 21,424.
Virginia single-family house sales ticked up to 24,408 from 24,387. Virginia condo sales slid to 21,254 from 22,309.
“Our inventories remain highly constrained,” Clower wrote. “No matter how attractive mortgages rates become, realtors can’t sell what is not on the market.”
Fairfax County
The median price of a single-family house increased to $675,000 in 2019 from $650,000 in 2018. The median price of a condo increased to $395,000 in 2019 from $379,900 in 2018. Sales of single-family houses increased to 9,263 in 2019 from 8,633 in 2018. Sales of condos were flat, decreasing slightly to 8,737 in 2019 from 8,744 in 2018.
| Zip | Location | 2018 price | 2019 price | 2018 sales | 2018 sales |
| 20120 | Centreville | $599,000 | $625,000 | 303 | 291 |
| 20121 | Centreville | $596,000 | $615,000 | 64 | 81 |
| 20124 | Centreville | $715,000 | $725,000 | 163 | 188 |
| 20151 | Chantilly | $605,000 | $600,000 | 183 | 177 |
| 20170 | Herndon | $525,000 | $545,000 | 305 | 365 |
| 20171 | Herndon | $675,000 | $675,000 | 322 | 347 |
| 20190 | Reston | $695,000 | $649,900 | 23 | 15 |
| 20191 | Reston | $650,000 | $665000 | 161 | 181 |
| 20194 | Reston | $785,000 | $795,000 | 97 | 89 |
| 22003 | Annandale | $619,900 | $625000 | 476 | 470 |
| 22015 | Burke | $615,000 | $645,000 | 321 | 321 |
| 22027 | Vienna, Dunn Loring | $950,000 | $965,000 | 16 | 21 |
| 22030 | Fairfax | $745,000 | $750,380 | 224 | 216 |
| 22031 | Fairfax | $749,000 | $775,323 | 137 | 173 |
| 22032 | Fairfax | $616,100 | $626,650 | 317 | 317 |
| 22033 | Fairfax | $607,500 | $640000 | 195 | 205 |
| 22039 | Fairfax Station | $779,900 | $80,7500 | 260 | 264 |
| 22041 | Falls Church | $650,000 | $694,000 | 73 | 111 |
| 22042 | Falls Church | $560,000 | $570,000 | 320 | 343 |
| 22043 | Falls Church | $719,900 | $760,000 | 194 | 217 |
| 22044 | Falls Church | $675,000 | $720,000 | 81 | 75 |
| 22046 | Falls Church | $700,000 | $778,500 | 61 | 76 |
| 22066 | Great Falls | $1,015,875 | $1,049,900 | 236 | 301 |
| 22079 | Lorton | $625,000 | $650,000 | 224 | 289 |
| 22101 | McLean | $1,160,000 | $1,150,000 | 447 | 473 |
| 22102 | McLean | $1,200,000 | $1,240,000 | 139 | 158 |
| 22124 | Oakton | $879,000 | $876,000 | 154 | 171 |
| 22150 | Springfield | $465,000 | $497,500 | 215 | 226 |
| 22151 | Springfield | $515,000 | $520,000 | 202 | 192 |
| 22152 | Springfield | $565,000 | $580,000 | 197 | 238 |
| 22153 | Springfield | $600,000 | $620,000 | 281 | 313 |
| 22180 | Vienna | $720,000 | $743,000 | 308 | 338 |
| 22181 | Vienna | $850,000 | $850,000 | 139 | 156 |
| 22182 | Vienna | $882,000 | $907,000 | 274 | 278 |
| 22303 | Alexandria | $478,000 | $450,000 | 59 | 62 |
| 22306 | Alexandria | $534,500 | $540,000 | 186 | 183 |
| 22307 | Alexandria | $700,000 | $717,500 | 145 | 146 |
| 22308 | Alexandria | $655,000 | $679,000 | 274 | 295 |
| 22309 | Alexandria | $555,000 | $560,000 | 301 | 285 |
| 22310 | Alexandria | $510,000 | $531,000 | 276 | 295 |
| 22311 | Alexandria | $540,000 | $614,000 | 27 | 19 |
| 22312 | Pinecrest, Overlook | $512,000 | $547,500 | 122 | 131 |
| 22315 | Alexandria, Kingstowne | $600,000 | $643,890 | 124 | 169 |
| Source: Black Knight | |||||
Builders remain constrained by the same problems that have plagued them the last several years. Buildable lots are scarce. Regulations add cost and time to the project. Tariffs have made building supplies more expensive and difficult to obtain. Labor shortages have made finding workers challenging.
Nonetheless, until the coronavirus outbreak, builders were optimistic. The National Association of Home Builders/Wells Fargo housing market index, which measures builder perceptions of single-family home sales, has hovered in the 70s the past six months. Any number greater than 50 indicates builders view conditions as good.
“Really, up until this point, the market has been really good,” said Jeff Kottmeier, a market research adviser for John Burns Real Estate Consulting. “We had just come off of interest rates coming down and they’ve been really low. Employment was good. There was a lot of demand. Just visiting the different sales offices, the different projects, everybody for the most part was fairly upbeat.”
According to Kottmeier, single-family building permits were down in 2019 to 12,766 from 13,588 in 2018. New home closings were flat at 11,677 in 2019 compared with 11,492 in 2018.
As for what will happen this year, it is too soon to tell.
“I can’t even get my arms around it,” Kottmeier said. “We’re still kind of at the beginning.”
Editor’s note: Because newsroom resources are being deployed on the coronavirus pandemic coverage, we are unable to provide the map and interactive graphic that has been part of this report in the past. Some Zip codes in the above charts were left out because of too few sales.