What's Up Wednesday- June 3, 2020
Posted by Leanna Conoscenti on Wednesday, June 3, 2020 at 10:25 AM By Leanna Conoscenti / June 3, 2020 Comment
What's Up Wednesday - 6/03/2020- Did home prices increase or decrease in the month of May?
This week, we're going to take a look at what happened with home prices in the month of May.
In Loudoun County this May, the median sales price was $529,900. That's down 1% from April 2020 and up 6% from May of last year.
In Fairfax County this May, the median sales price was $580,000. That's also down 1% from April 2020 and up 5% from May of last year.
Overall, home prices are holding steady with solid year over year gains. To put it in perspective, between May 2018 and May 2019, home values increased by 3-4% compared to the 5-6% increase that we are seeing now.
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