We have seen a dramatic rise in prices over 1999. Appraisers do not look at comps more than 6 months old and in this market 3 months is the practice if possible. It is important to have an buyers agent in this market. Your question must refer to the Washington area. From my reporting, the city is very desirable as are the close-in suburbs.
People are sick of commuting so if they work in town, they want to be close to town.
If you're asking what a family may want, a 4 bedroom house is the most desirable, from what I've heard. It is hard to say a location that is more sought after than others, because a lot of it has to do with what you can afford and where you work. Both are buying in the same area but two totally different products. Families are looking for 4 bedrooms in a single family home. I am having more fun that I thought.