What's Hot: Whole Foods at Walter Reed to Open at End of June | Will This Be the DC Area's First $60 Million House?
From Chevy Chase to LeDroit Park, the DC Neighborhoods With Lowest Inventory of Homes For Sale
Since November 2015, the inventory of homes on the market in the District has been above the two-month mark for just a thirty-day stretch, a statistic that is illustrative of how far we have been from the benchmark of a balanced housing market which is usually a six-month supply.
However, on a hyperlocal level, the inventory shortage is much more severe. There are seven neighborhoods in DC where the inventory of homes for sale has hovered around a month or less since the beginning of 2017.
story continues belowloading...
story continues above
The markets of Chevy Chase DC, LeDroit Park and Brightwood have all essentially had a month’s supply of homes for sale since the beginning of the year. What that means is that if no new listings came on the market, at current demand levels, the inventory of homes for sale would be zero in a month’s time.
In places like Shepherd Park, Mount Pleasant and Glover Park, the market shortage is much more acute. In Mount Pleasant and Shepherd Park, there has been just about a three-week supply of homes for sale for the last three months. The Glover Park supply has ranged between one week and two weeks since the beginning of the year.
The consequence of the low supply, in addition to frustrating buyers, is almost an across the board increase in home prices since the first quarter of 2016 in the neighborhoods above, with the exception of Brightwood.
See other articles related to: dc housing inventory, housing inventory
This article originally published at https://dc.urbanturf.com/articles/blog/from_chevy_chase_to_ledroit_park_the_dc_neighborhoods_with_lowest_inventory/12500.
Most Popular... This Week • Last 30 Days • Ever
A look at the larger residential developments in the works from Cardozo to Mount Vern... read »
The Heights, a ten-stall food hall that is taking over the spaces formerly occupied b... read »
A piece of legislation quietly introduced in the House of Representatives earlier thi... read »
Whole Foods announced yesterday that the 47,000 square foot store will open on June 2... read »
Developer EYA and the Washington Metropolitan Area Transit Authority will go before D... read »
Virginia's homebuyer assistance programs can seem complex. This edition of First-Time... read »
The residential projects that have sprouted up on the Maryland and DC sides of the Fr... read »
With a groundbreaking ceremony on Wednesday, the redevelopment of the Georgetown Wes... read »
The 23,600 square-foot mansion just hit the market, and would set a record if it fetc... read »
The immaculately kept 100-year-old house features six bedrooms and four-and-a-half ba... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
- The 9 Developments and 1,250 Units in the Works For Shaw
- Friendship Heights Food Hall Could Open This Month
- Will This Proposed Bill Increase the Number of Homes For Sale?
- Whole Foods at Walter Reed to Open at End of June
- 435-Unit Development Planned For Takoma Metro Station Looks For Historic Approval
- First-Timer Primer: Virginia's Home Buyer Assistance Programs
- Mall Conversions, Trader Joes? The 1,500 Units in the Friendship Heights Pipeline
- The Four Seasons Private Residences in Georgetown Break Ground
- DC's Blaine Mansion Lists For $30 Million, A Potentially Record-Setting Price in the City
- Now Selling: A 16th Street Heights Victorian on an Island of Its Own
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. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro