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
Here are some precautions to take before buying real estate with a buddy.... read »
The largest development on the boards for the H Street Corridor will go before DC's B... read »
The plans for 7749 Old Georgetown Road will go before the Montgomery County Developme... read »
The red wall near the corner of 30th and M Street NW hit the market back in July for ... read »
Today, we highlight the five DC neighborhoods that have been the most affordable to h... read »
With interest rates reaching their highest levels in 22 years, it is critically impor... read »
Just before the holiday, UrbanTurf is taking its semi-annual look at the neighborhood... read »
Plans have been filed with DC's Historic Preservation Office to convert the building ... read »
The change would allow for an 80-acre portion of DC's 272-acre Armed Forces Retiremen... read »
An application filed with DC this week signals the end is nigh for a McDonald's locat... 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. Start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro