Charting the market: Where the prices are better

If you had to guess, where do you think homes sell most quickly in the Washington metropolitan area? You might expect it to be somewhere inside the Beltway, close the Metro and the region’s job centers.

Would you be surprised that homes in Prince William and Stafford counties were the swiftest sellers last month?

In September, homes sold in Prince William County only spent 50 days on the market - compared to 62 days in Fairfax County, 83 days in Montgomery County and 129 days in Charles County.

That’s right, it took less than two months to sell a home in Prince William County, but it took more than four months in Charles County - and these counties are about the same distance from the Beltway.

Stafford County is even further from the Beltway and the District. Yet, homes there sold in an average of 57 days.

What’s going on to make Stafford and Prince William counties such brisk markets?

Prices, mostly. With a median sales price of just $205,000 in September, Prince William County is much more affordable than adjacent Fairfax County, where the median sales price was $365,000.

Or compare Prince William County to Arlington County, where homes cost twice as much as in Prince William - yet these counties are only about 20 miles apart.

The median price in Stafford County was $220,000 in September, down from $375,000 in 2006. With such a drop in prices, it’s no surprise that sales are higher now than they were three years ago.

In 2006, buying a home in Stafford and commuting up Interstate 95 to the District would save you $80,000 compared to buying a median-priced home in the District.

Comparing last month’s figures, however, you’ll find that same drive will now save you $151,000. That will buy a lot of gas and brake pads.

Contact Chris Sicks by e-mail (csicks@gmail.com).

The statistics in this story reflect a metropolitan area that includes the Maryland counties of Montgomery, Prince George’s, Anne Arundel, Howard, Charles and Frederick; the Virginia counties of Arlington, Fairfax, Loudoun, Prince William, Spotsylvania and Stafford; the city of Alexandria; and the District.