It goes without saying that the coronavirus pandemic sparked a wave of uncertainty across myriad industries, and no other market has quite felt its impact like that of real estate.
The pandemic became a driving force behind the continued real estate boom, with high demand for vacation homes and a limited supply of housing that prompted buyers and investors to bid up prices for affordable properties, causing home prices to skyrocket. Since then, increasing mortgage rates have slowed growth, with prices even declining in some places. But some areas are still seeing price jumps compared to the year before.
compiled a list of cities with the fastest-growing home prices in the Washington-Arlington-Alexandria, DC-VA-MD-WV metro area using data from . Cities are ranked by 1-year price change as of May 2023. The typical home value in the United States increased over the last year by 0.9% to $346,856. Data was available for 236 cities and towns in Washington, D.C..
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#30. Bladensburg, MD
- 1-year price change: +$12,866 (+4.4%)
- 5-year price change: +$90,895 (+42.0%)
- Typical home value: $307,403 (#230 most expensive city in metro)
#29. Great Falls, VA
- 1-year price change: +$13,130 (+0.9%)
- 5-year price change: +$339,901 (+29.1%)
- Typical home value: $1,507,403 (#1 most expensive city in metro)
#28. Chester Gap, VA
- 1-year price change: +$14,227 (+4.3%)
- 5-year price change: +$110,588 (+47.1%)
- Typical home value: $345,367 (#211 most expensive city in metro)
#27. Myersville, MD
- 1-year price change: +$14,252 (+3.0%)
- 5-year price change: +$135,109 (+38.2%)
- Typical home value: $489,230 (#116 most expensive city in metro)
#25. Mount Airy, MD
- 1-year price change: +$14,986 (+2.7%)
- 5-year price change: +$150,514 (+35.2%)
- Typical home value: $578,247 (#82 most expensive city in metro)
#24. Washington Grove, MD
- 1-year price change: +$15,559 (+2.7%)
- 5-year price change: +$150,514 (data not available)
- Typical home value: $594,799 (#75 most expensive city in metro)
#23. Summit Point, WV
- 1-year price change: +$15,672 (+4.2%)
- 5-year price change: +$150,514 (data not available)
- Typical home value: $388,153 (#181 most expensive city in metro)
#22. Potomac, MD
- 1-year price change: +$16,216 (+1.3%)
- 5-year price change: +$268,124 (+27.0%)
- Typical home value: $1,262,551 (#5 most expensive city in metro)
#20. Glen Echo, MD
- 1-year price change: +$17,200 (+1.5%)
- 5-year price change: +$127,037 (data not available)
- Typical home value: $1,174,954 (#8 most expensive city in metro)
#19. Emmitsburg, MD
- 1-year price change: +$17,529 (+5.6%)
- 5-year price change: +$88,263 (+36.5%)
- Typical home value: $330,324 (#221 most expensive city in metro)
#18. Chevy Chase, MD
- 1-year price change: +$20,415 (+1.5%)
- 5-year price change: +$343,932 (+33.7%)
- Typical home value: $1,365,329 (#3 most expensive city in metro)
#17. Quantico, VA
- 1-year price change: +$20,861 (+6.7%)
- 5-year price change: +$130,034 (+64.6%)
- Typical home value: $331,262 (#218 most expensive city in metro)
#16. Banco, VA
- 1-year price change: +$21,463 (+6.6%)
- 5-year price change: +$108,140 (+45.3%)
- Typical home value: $346,971 (#209 most expensive city in metro)
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#15. Poolesville, MD
- 1-year price change: +$22,377 (+3.5%)
- 5-year price change: +$173,534 (+35.1%)
- Typical home value: $667,695 (#56 most expensive city in metro)
#14. Shenandoah Junction, WV
- 1-year price change: +$22,996 (+6.4%)
- 5-year price change: +$131,329 (+52.6%)
- Typical home value: $381,156 (#185 most expensive city in metro)
#13. Dickerson, MD
- 1-year price change: +$23,679 (+3.3%)
- 5-year price change: +$201,996 (+38.2%)
- Typical home value: $730,511 (#43 most expensive city in metro)
#12. Union Bridge, MD
- 1-year price change: +$24,441 (+6.7%)
- 5-year price change: +$110,739 (+39.6%)
- Typical home value: $390,441 (#177 most expensive city in metro)
#10. Waterford, VA
- 1-year price change: +$27,975 (+2.5%)
- 5-year price change: +$374,598 (+49.4%)
- Typical home value: $1,132,227 (#10 most expensive city in metro)
#9. Langley Park, MD
- 1-year price change: +$28,506 (+8.7%)
- 5-year price change: +$102,556 (+40.4%)
- Typical home value: $356,682 (#200 most expensive city in metro)
#8. Woodville, VA
- 1-year price change: +$28,834 (+4.6%)
- 5-year price change: +$230,626 (+54.0%)
- Typical home value: $657,990 (#61 most expensive city in metro)
#7. Rocky Ridge, MD
- 1-year price change: +$30,911 (+8.3%)
- 5-year price change: +$134,546 (+50.1%)
- Typical home value: $402,953 (#171 most expensive city in metro)
#5. Upperville, VA
- 1-year price change: +$32,168 (+2.7%)
- 5-year price change: +$431,907 (+55.7%)
- Typical home value: $1,207,414 (#6 most expensive city in metro)
#4. Garrett Park, MD
- 1-year price change: +$32,318 (+3.3%)
- 5-year price change: +$220,903 (+27.7%)
- Typical home value: $1,017,287 (#13 most expensive city in metro)
#3. The Plains, VA
- 1-year price change: +$34,450 (+3.9%)
- 5-year price change: +$348,506 (+61.8%)
- Typical home value: $912,257 (#21 most expensive city in metro)
#2. Chevy Chase View, MD
- 1-year price change: +$34,497 (+2.5%)
- 5-year price change: +$248,443 (+20.9%)
- Typical home value: $1,438,571 (#2 most expensive city in metro)
