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$375,000 or Less: DC's Five Cheapest Housing Markets in 2020
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The story in the DC-area housing market for most of 2020 has been rising prices, culminating in a November when homes prices in DC proper hit their highest level on record. Today, UrbanTurf is taking a look at some of the least expensive markets in the city in 2020.
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 15 home sales this year to qualify.)
As has been the case in recent years, the least expensive markets are split between opposite sides of the city, with Van Ness, a neighborhood between Cleveland Park and Chevy Chase, the most bargain-friendly with a median price of $272,450.
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Van Ness and Foggy Bottom made the list this year because the homes sold in these two neighborhoods were almost entirely condos and co-ops. The three neighborhoods rounding out the list -- all east of the Anacostia River -- saw a much lower volume of condo and co-op sales.
Interestingly, Van Ness was the only neighborhood in which home prices dropped year-over-year. In Congress Heights and Marshall Heights, prices rose 9% and 11%, respectively; in Barry Farm, prices jumped a whopping 43%.
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This article originally published at https://dc.urbanturf.com/articles/blog/375000-or-less-dcs-five-cheapest-housing-markets-in-2020/17661.
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