With the spring housing market underway, UrbanTurf is taking its annual look at the neighborhood markets around the DC region. Today, we head to over to Anacostia.
For the last six years, home prices rose considerably in Anacostia. In 2023, prices are giving up a lot of those gains. The median home price in the neighborhood east of the Anacostia River this year has dropped 34% year-over-year. Plummeting prices have not resulted in more buyers, as sales are down 16% compared to the same time last year. The homes that are selling in the neighborhood do not appear to be fetching their asking price, as the original list price to sales price ratio has fallen 8 percentage points to 91% in 2023.
Below are some additional statistics we picked out about the Anacostia market.
- $355,000 -- The median home price in Anacostia.
- 25% -- The percentage of homes that are selling in ten days of less in 2023, down from 60% last year.
- 23 -- The average number of days that homes are spending on the market.
- 3.14 months -- The supply of homes for sale in March, up 11% compared to last March.
- 0.41 -- The contract ratio for Anacostia in March.
- Fairly Balanced: The Logan Circle Market, By the Numbers
- Sales Down, Prices Flat: The Capitol Hill Housing Market, By the Numbers
This article originally published at https://dc.urbanturf.com/articles/blog/a_downward_trend_the_anacostia_housing_market_by_the_numbers/20968.
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