What's Hot: Barnes and Noble Will Return to Georgetown in June | The 3,000 Units On The Boards From Trinidad to Gallaudet
From 2007 to 2017: A Look at How Much DC Home Prices Have Risen in the Past Decade
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.
story continues below
loading...story continues above
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.
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.
Most Popular... This Week • Last 30 Days • Ever
Rossdhu Gate is the remaining piece of a 30-room castle built by socialite Daisy Calh... read »
As profits drop around the country, sellers around DC are still realizing hefty retur... read »
A Home Equity Line of Credit, commonly referred to as HELOC, is a borrowing product t... read »
The Gen Z market; ranking food halls around DC; and is this the new king of Queens?... read »
The term "luxury" has been applied broadly in the housing market, but a new report ai... read »
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
Unique Spaces
Awesome and unusual real estate from across the DC Metro