$105,000: The Difference 5 Years Makes in DC Home Prices
This has been a record-breaking year for the DC housing market, particularly when it comes to home prices. Today, UrbanTurf tries to put the rise of prices in context with a look at how they have fared over the past five years.
Between 2015 and 2020, the median home price citywide has risen roughly 20%, or $105,000, increasing from $520,000 to $625,000. Below, we pull some data from a sample of DC neighborhoods to get a look at how prices have fared on a more granular level.
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Perhaps unsurprisingly, the neighborhoods with the most significant price jumps over the last five years are both east of the River: in Congress Heights and Anacostia, prices have gone up by a 67.8% and 65%, respectively.
Neighboring neighborhoods Spring Valley and American University Park saw the highest dollar-amount home price increase despite having percentage price increases closer to the citywide median. In these subdivisions, prices rose by $350,750 and $343,000, respectively.
Georgetown and Columbia Heights had the smallest margins of price growth of the neighborhoods observed, both with appreciation closer to half of the citywide median and five-digit price increases.
Photo courtesy of HomeVisit.
See other articles related to: dc home prices, home prices, median home prices
This article originally published at https://dc.urbanturf.com/articles/blog/105000-the-difference-5-years-makes-in-dc-home-prices/17566.
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