What's Hot: DOJ-To-Residential? 500-Unit Apartment Conversion Pitched For Judiciary Plaza Office Building
DC's Falling Home Prices In 4 Charts
✉️ Want to forward this article? Click here.

In the first three months of the year, DC home prices have dropped across the board, which is in contrast to past years when prices just seemed to go in one direction: up. Below, UrbanTurf highlights four charts that show the path of home prices for a variety of property types in 2023.
DC home prices fell about 8% year-over-year in the first quarter of 2023. While the median home price in the city is still $600,000, prices have not been this low in more than three years.
story continues below
story continues above
The price of a detached home saw the most significant drop, falling about 13%; last year, the median price for this property type hit an all-time high in the city. Seasonally, prices for detached homes are generally lowest in the first quarter of the year, so expect a rebound in the coming months.
Townhouse prices in DC fell 6% to about $788,000 in the first quarter of 2023. It is the lowest that townhome prices have been in about three years. While the drop is notable, prices for townhouses are only about $100,000 lower than their record high.
Condo and co-op prices have been low in the city for the last three quarters as interest rates have risen. The median price at the beginning of 2023 is an 11% drop compared to the first quarter of 2022. Demand for condos and co-ops has picked up a bit over the last month, so it will be interesting to see if that translates to an increase in prices in the second quarter.
See other articles related to: dc home prices, dc housing market, dc housing market trends
This article originally published at https://dc.urbanturf.com/articles/blog/dcs_falling_home_prices_in_4_charts/20987.
Most Popular... This Week • Last 30 Days • Ever

Reports over the last week have suggested that a flood of homes hit the market as the... read »

Fifteen years later, plans appear to be back in the works for one of Georgetown's mos... read »

The listing is the largest residence in the building and lives like a townhome, with ... read »

The wheels are in motion to convert an office building in downtown DC into a large re... read »

Freddie Mac reported 6.85% as the average on a 30-year mortgage, down two basis point... read »
- The DC Area Is Not Seeing A Surge Of Homes Hit The Market Due To Federal Layoffs
- Fifth Time's A Charm? A 21-Unit Development Is Back On The Table For Georgetown Exxon Site
- One-of-a-Kind Residence in a Former Embassy Hits the Market in Adams Morgan
- DOJ-To-Residential? 500-Unit Apartment Conversion Pitched For Judiciary Plaza Office Building
- Mortgage Rates Drop Incrementally For 5th Week In A Row
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro