Home | Newsletter | Advertise
loading...

Every Type of House in DC Will Likely Break This Record in 2021

  • October 21st 2021

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

A home on the market in Georgetown.

A year ago, the median price for a single-family home in DC crossed the $1 million threshold for the first time. That was a sign of things to come. 

2021 will likely go down as the year that prices for every type of house in DC broke a record. So far this year, the median home price for townhouses and detached single-family homes are well above their highest level on record.

Median house prices in DC over the years. Click to enlarge.

As the table above illustrates, house prices in DC for the first nine months of 2021 are well above the median prices for the same period for each of the previous nine years. Prices for townhouses in the city have risen 45% (when adjusted for inflation) since 2012; detached house prices have risen 35% during the same period. 

The record prices are the result of a huge demand for houses since the pandemic began and a dwindling supply. Between 2012 and 2018, there was about a 2.5-3-month supply of houses on the market during the third quarter of the year, however in 2019, that supply dropped to two months. And then in 2020, it fell to about a month and only started increasing again in the last quarter. 

UrbanTurf will revisit these stats in January to see if 2021 was in fact a record-breaking year. 

See other articles related to: dc home prices, dc housing market, dc housing prices

This article originally published at https://dc.urbanturf.com/articles/blog/every-type-of-house-in-dc-will-likely-break-a-record-this-year/18850.

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

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse