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A 33% Jump: The Palisades Housing Market, By the Numbers

by UrbanTurf Staff

A home that sold earlier this year in Palisades.

UrbanTurf is taking its annual look at the neighborhood housing markets around the DC region. Today, we head over to Palisades.

The theme of the Palisades housing market in 2020, like many places across DC, is rising prices and low supply. Prices are up for every property type in the neighborhood this year, with the largest increases seen for condos and co-ops. With inventory down about 17% compared to last year, home sales have dropped off, down 26% compared to the same period in 2019.

Below UrbanTurf plucked out several other interesting stats about the Palisades market.

  • $1.238 million -- The median home price in Palisades, an increase of 33% compared to 2019. 
  • $355,120 -- The average price for condos and co-ops in 2020, up 27% compared to last year.
  • 26 -- The number of homes sold in Palisades this year, down 26% compared to last year. 
  • 2.5 -- The months of supply of homes for sale in the second quarter of 2020, down 17% compared to last year. 

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This article originally published at http://dc.urbanturf.com/articles/blog/a-33-jump-the-palisades-housing-market-by-the-numbers/17170

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