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Big Houses Moving Quickly: The Spring Valley Market, By the Numbers

by UrbanTurf Staff

A home in Spring Valley.

UrbanTurf continues its annual look at the neighborhood housing markets around the DC region as we head over to Spring Valley. 

Spring Valley, the neighborhood tucked away off Massachusetts Avenue near American University, is an interesting microcosm of the climate of the regional housing market. A neighborhood of large detached homes, the high prices (highest in the District) in Spring Valley did nothing to dissuade buyers this year as 77% of homes sold within ten days of hitting the market. As with many local markets these days, supply is also scant. There is just a two-week supply of homes on the market now, down 72% compared to last year.

Below are some interesting statistics we picked out about the Spring Valley market.

  • $2.242 million -- The average sale price for homes sold in 2021, down about 1 percent compared to last year.
  • $4.95 million -- The price of the most expensive home sold in the neighborhood this year.
  • 87% -- The percentage of homes sold that had 4+ bedrooms. 
  • 102.8% -- The average sales price to original list price ratio for homes sold in 2021.
  • 0.5 -- The months of supply of homes on the market currently. 

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This article originally published at http://dc.urbanturf.com/articles/blog/big-houses-by-the-numbers-the-spring-valley-housing-market-by-the-numbers/18750

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