Business & Tech

Burke, Vienna in Top Five Housing Markets

Bloomberg Businessweek said these had biggest gains in home value.

Burke and Vienna are among the top five U.S. cities with the biggest gains in home value since President Obama took office.

This is according to a survey of the 1,000 largest cities nationwide by online real estate marketplace Zillow for Businessweek.com, and reported by Yahoo! Real Estate.

The median home value in Burke increased by 13.5 percent.

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According to the Zillow Home Value Index, the median home value in Burke was $434,200 in August. The median sale price was $427,300 as of August 31.

The median home value in Vienna increased by 12.8 percent. The median home value was $638,500 in August, and the median sale price was $ 645,400 as of August 31.

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The top three cities are:

  • Brookline, MA, with a 13.6 percent change.
  • Arlington, MA, with a 14.8 percent change.
  • Weston, FL, with a 15.1 percent change.

Nationwide, the median home value fell by 9.9 percent over the same period.

Zillow Senior Economist Svenja Gudell said, "Under current conditions the median U.S. home value will likely fall another 3 percent to 5 percent and not reach trough until 2012 at the earliest."

Editor's Note: Looking for a home in Burke?  See each Friday for open house listings.


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