For several months, UrbanTurf has been covering DC housing activity on the pricier end of the market. Today, we do the opposite, highlighting some of the least expensive markets in the city.
To determine the most affordable housing markets, we looked at the advertised subdivisions in DC with the lowest median home sales prices this year. (Neighborhoods were required to have at least 20 home sales this year to qualify.) Barry Farm led the way as the most bargain-friendly neighborhood, with a median price of $243,867, followed by Marshall Heights where price have dropped significantly compared to last year.
The only NW DC neighborhood to make the list is Foggy Bottom, a regular entrant on to the most-affordable list given that the vast majority of home sales in the neighborhood are condos or co-ops.
As seen with the sales price to listing price ratio in the table above, neighborhoods being inexpensive doesn't necessarily mean they aren't competitive. Despite prices rising by 13 percent in Congress Heights, it remains a neighborhood where more often than not, buyers are paying above asking price for homes on the market.
- 27 Percent of DC Homes Priced Above $1 Million
- FHA Significantly Expands Eligibility For Would-Be Condo Buyers
This article originally published at https://dc.urbanturf.com/articles/blog/335000-or-less-dcs-five-cheapest-housing-markets/15802.
Most Popular... This Week • Last 30 Days • Ever
Neighborhood Development Company has filed plans with DC's Historic Preservation Offi... read »
Plans for the New York-based eatery appear to be moving forward.... read »
The development for four parcels at The Yards from Brookfield Properties and the Menk... read »
EDENS filed a planned unit development for a two-building residential development tha... read »
One of the more prominent features of the project will be a public plaza that will ru... read »
To help home buyers and sellers both novice and seasoned, UrbanTurf is running a seri... read »
As home buyers get the itch to look for a home and start to venture out to open house... read »
The development will replace the 44,700 square-foot retail structure that was previou... read »
The concept includes 14 lanes for bowling, a 1,200 person concert venue, a craft bar ... read »
The zip codes that are home to Brentwood, Takoma Park and sections of Hyattsville top... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... 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. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro