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Howard County already has the second highest median home values in Maryland.
Arlington - $594,800
Alexandria - $494,400
District of Columbia - $454,500
Montgomery - $448,700
Loudoun - $443,100 Howard - $426,300
Calvert - $347,300
Anne Arundel - $333,100
Prince William - $323,100
Carroll - $322,000
Frederick - $301,300
Charles - $287,000
Harford - $279,300
Prince George's - $258,800
Baltimore County - $248,700
Baltimore City - $155,000
Can't look at home value, you have to look at price per square foot. Home values are probably the biggest misleading stat in real estate. You have to ask how big is the house you're comparing. The other thing you need to ask is how much would the same size house be in the place you're comparing it to. What is the median square foot size of all housing units in Howard county? Now, what is the average size in the other jurisdictions?
Can't look at home value, you have to look at price per square foot.
I seriously doubt homes in Howard County (Baltimore MSA) are much bigger or smaller on average than homes in Charles or Prince William Counties (DC MSA).
Putting square footage aside, by your logic, home values in Howard County should exceed those in Montgomery County after Howard becomes part of the DC MSA? Why this should happen has not been adequately explained.
Home values are probably the biggest misleading stat in real estate. You have to ask how big is the house you're comparing. The other thing you need to ask is how much would the same size house be in the place you're comparing it to. What is the median square foot size of all housing units in Howard county? Now, what is the average size in the other jurisdictions?
Howard County has big lot houses just like Charles, Prince William, Calvert and Frederick Counties, which are all part of the Washington, DC MSA. If being a part of the Washington, DC MSA is such a boon for property values, then why do so many counties in the DC MSA have lower property values than Howard County, which is a part of the Baltimore MSA?
Furthermore, why would property values in Howard County increase if its re-designated as part of the DC MSA?
Actually, if you go through property sales records on Redfin and filter by square footage (which is basically what appraisers do anyway), you'll see that the median sale price for homes in the 5,000-7,500 sq. ft. range in Prince William is $604,000. In Howard County, it's $840,000. In Montgomery County, it's $1.24 million. In Prince George's County, it's $528,000.
I seriously doubt homes in Howard County (Baltimore MSA) are much bigger or smaller on average than homes in Charles or Prince William Counties (DC MSA).
Putting square footage aside, by your logic, home values in Howard County should exceed those in Montgomery County after Howard becomes part of the DC MSA? Why this should happen has not been adequately explained.
Yes, they should. The school system is better there at this point and the homes are larger and more expansive. Montgomery County is going full urban and Howard County is still building large homes so if it happens, it will become more expensive than Montgomery County. It already has a higher median income.
Actually, if you go through property sales records on Redfin and filter by square footage (which is basically what I believe appraisers do anyway), you'll see that the median sale price for homes in the 5,000-7,500 sq. ft. range in Prince William is $604,000. In Howard County, it's $840,000. In Montgomery County, it's $1.24 million. In Prince George's County, it's $528,000.
The price per square foot metric I'm talking about has more to do with the amount of houses Howard County has in its total housing stock. If you're taking the median, the amount of homes in each size is extremely important. What's going to be higher, the median home value of a 100 unit condo building or the median home value of 100 house that are each 5,000 sq. feet or more?
The price per square foot metric I'm talking about has more to do with the amount of houses Howard County has in its total housing stock. If you're taking the median, the amount of homes in each size is extremely important. What's going to be higher, the median home value of a 100 unit condo building or the median home value of 100 house that are each 5,000 sq. feet or more?
I don't follow. I was comparing apples to apples. The median sale price of a home between 5,000 and 7,500 sq. ft. is much higher in Howard County (Baltimore) than it is in Prince William (DC). What more needs to be said?
The two counties are about equidistant from Downtown DC. They are both full of large McMansions with very little multi-family and prewar housing.
Last edited by BajanYankee; 09-08-2016 at 04:37 PM..
Location: That star on your map in the middle of the East Coast, DMV
8,128 posts, read 7,568,606 times
Reputation: 5785
Quote:
Originally Posted by qworldorder
How is Atlanta "technically" on the East Coast? It's 4 hours away! By that logic, Las Vegas is "technically" on the Pacific Coast. Baltimore, if we're going all the way down to Florida and up to Maine as "East Coast", would be 6th (after NYC, DC, Boston, Philly and Miami), or possibly 7th. Providence is nowhere near Baltimore's level, nor is Jacksonville. Orlando is inland. Which leaves Tampa, and that's on the Gulf Coast, so that's up for debate.
As far as 4th on the Pacific Coast, I don't even think it would be 4th in California, let alone including Oregon and Washington.
Atlanta is the capital of an East Coast state in Georgia one of the original 13 colonies. I'm not sure what they taught you in geography class but it is still "East Coast". The West coast claims places like Vegas and Phoenix that are in states that don't even touch the Pacific. DC nor Philly touch the Atlantic and DC is almost 3 hours away from the Atlantic, would you not say its East Coast?
Again this is just more of a technicality in ranking the cities along the Eastern Seaboard, no one in their right mind would describe Atlanta as "East Coast".
(and before you come back with the typical "Detroit is further East than Atlanta" I already know this, but it is still not a part of an East Coast state.)
Last edited by the resident09; 09-08-2016 at 04:41 PM..
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