What's Hot: The 4 Projects in the Works Near DC's Starburst Intersection | A 153-Room Aloft Hotel Pitched For Mt. Vernon Triangle
Home Price Watch: Sales Increase in Brightwood As Homes Stay on Market Longer
In this week’s Home Price Watch, UrbanTurf is taking a look at the market in the sleepy neighborhood of Brightwood in northern DC using segmented data from real estate data firm RealEstate Business Intelligence (RBI). This data reflects a year-over-year snapshot in the advertised Brightwood subdivision between January-May 2013 and January-May 2014.
The big takeaway from the data so far in 2014 is that more homes are selling this year, but they are sitting on the market for a lot longer, on average, than last year.
Seventy-five homes have sold so far in 2014, a 17 percent increase over the same period in 2013. The increase in individual sales is also bringing up the total sales volume in the neighborhood, which increased by 20.4 percent. Here are some other takeaways from the data:
- Though more homes in Brightwood have hopped on the market, they’re taking longer to sell. Average days on market rose by about 50 percent, moving from 55 days last year to 82 days in 2014.
- Buyers know what they can get for their houses, and their pricing isn’t too aggressive. List prices increased to $420,130 from $412,532, or about 1.8 percent, and the median sold price rose 1.7 percent, from $392,500 to $399,000.
- In line with those figures, the average sold price to original list price ratio moved up 2.73 percent to 99.5 percent.
See other articles related to: brightwood, home price watch, home prices
This article originally published at https://dc.urbanturf.com/articles/blog/home_price_watch_brightwood/8646.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf looks at the estimated annual maintenance costs associated... read »
Another concept has been unveiled for one of DC's most contentious development sites,... read »
The residential development in the works along Florida Avenue NE is looking to increa... read »
Renter demand has continued to push Class A apartment rents in the DC region up this ... read »
The big news in the development pipeline east of DC's H Street Corridor is the resur... read »
- What Are the Annual Maintenance Costs When You Own a Home?
- A First Look At The New Plans For Adams Morgan's SunTrust Plaza
- 46 to 48: The Biggest Project In Trinidad Looks To Get Bigger
- How Much Did DC-Area Rents Rise At The Beginning of 2024?
- The 4 Projects In The Works Near DC's Starburst Intersection
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