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A Look at One of DC's Priciest Housing Markets: Spring Valley, By the Numbers
UrbanTurf continues its annual look at the neighborhood housing markets around the DC region as we head over to Spring Valley.
Spring Valley, the DC neighborhood tucked away off Massachusetts Avenue near American University, highlights what is happening in a number of hyperlocal markets right now.
While the total number of homes to sell dropped notably so far in 2022 compared to last year, the homes that are selling are moving quickly and selling at a higher price than 2021. The median sales price is up 6% to $1.957 million, one of the highest in the city, and 75% of homes sold so far this year did so within ten days of hitting the market.
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Below are some interesting statistics we picked out about the Spring Valley market in 2022.
- $2.468 million -- The average sales price for a detached home with 4+ bedrooms, up 10% compared to last year.
- $5.6 million -- The price of the most expensive home sold in the neighborhood this year.
- 104.6% -- The average sales price to original list price ratio for homes sold in 2022.
- 1.5 -- The months of supply of homes on the market currently.
Photo courtesy of Connie Gauthier.
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This article originally published at https://dc.urbanturf.com/articles/blog/a-look-at-one-of-dcs-priciest-housing-markets-spring-valley-by-the-numbers/20043.
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