With the spring housing market in full swing, UrbanTurf is taking its annual look at the neighborhood markets around the DC region. Today, we head over to Hillcrest.
The market in the Ward 7 neighborhood of Hillcrest has been strong like many other areas in DC over the last few years, but that appears to be changing in 2022. Both home prices and home sales have fallen notably in the neighborhood this year, as homes are spending more time on the market. These dynamics resulted in the inventory of homes for sale rising about 30% in April compared to last spring.
Below are some statistics that UrbanTurf compiled about the Hillcrest market.
- $472,000 -- The median home price in 2022, down 15% compared to last year.
- 25 -- The number of homes sold so far in 2022, a 20% drop compared to same period in 2022.
- 25 -- The average number of days that homes are spending on the market in 2022, up 14% compared to last year.
- 1.13 -- The months of supply of homes for sale in April, up 30% compared to last April.
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This article originally published at https://dc.urbanturf.com/articles/blog/as-home-sales-drop-prices-follow-suit-in-hillcrest/19733.
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