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$140,000: The Difference 5 Years Makes in DC Home Prices

  • September 17, 2015

by UrbanTurf Staff

$140,000: The Difference 5 Years Makes in DC Home Prices: Figure 1
A home in Georgetown.

A look back at the trajectory of home prices in the nation’s capital over the last five years reveals that prices have been on a steady path north.

Since the third quarter of 2010, median sales prices have risen from $402,500 to $540,000 in DC. However as the chart below reveals, the price movement has had valleys and peaks. For instance, in the first quarter of every year, prices dipped, as is expected in the slower winter months. Median prices reached their highest level in the second and quarters of each year when the housing market was in full swing.

$140,000: The Difference 5 Years Makes in DC Home Prices: Figure 2
Median sales prices in DC — 2010 to 2015.

Below is a table that looks at how prices have increased based on unit size, but a snapshot shows that the increase has been across the board. For instance, the price for two-bedrooms rose from $435,000 to almost $575,000. Four-bedrooms saw prices go from $560,000 to almost $800,000.

$140,000: The Difference 5 Years Makes in DC Home Prices: Figure 3
Click to enlarge

This article originally published at http://dc.urbanturf.com/articles/blog/140000_the_difference_5_years_makes_in_dc_home_prices/10343

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