Home | Newsletter | Advertise
loading...

From 2007 to 2017: A Look at How Much DC Home Prices Have Risen in the Past Decade

  • June 16th 2017

by UrbanTurf Staff

From 2007 to 2017: A Look at How Much DC Home Prices Have Risen in the Past Decade: Figure 1
A Dupont Circle two-bedroom condo that sold in 2011.

Earlier this week, news came out that the median price of a DC home came close to eclipsing $600,000 in May, the highest level on record for the city. Rising home prices have been a frequent theme in headlines about the local housing market in recent years, with readers often noting how far the market has come since the housing crisis in 2008 and 2009.

However, a true measure of how much homes have appreciated in value would be to go back before the crisis and look at prices. So, with the help of Brightly MLS, that’s what we decided to do.

Brightly MLS provided UrbanTurf with median home prices for a selection of property types and sizes for May 2007 and May 2017. Those values are outlined in the table below.

From 2007 to 2017: A Look at How Much DC Home Prices Have Risen in the Past Decade: Figure 2

At first glance, the values have all increased notably, save for one-bedroom condos and co-ops where values rose just about 2 percent. However, if you adjust for inflation, home price appreciation is notably more modest, and prices for one-bedroom units have actually dropped by 15 percent. In fact, two-bedroom units, with an inflation-adjusted price appreciation of 22 percent, were the only properties to see double-digit price appreciation gains in the ten-year span.

This article originally published at https://dc.urbanturf.com/articles/blog/from_2007_to_2017_the_real_trajectory_of_dc_home_prices_in_the_past_decade/12687.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse