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$335,000 or Less: DC's Five Cheapest Housing Markets

  • August 26th 2019

by UrbanTurf Staff

A home that sold recently in Congress Heights.

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.

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This article originally published at https://dc.urbanturf.com/articles/blog/335000-or-less-dcs-five-cheapest-housing-markets/15802.

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