Home Price Watch: A Look at Spring Valley
✉️ Want to forward this article? Click here.
A home in Spring Valley.
For this week’s Home Price Watch, UrbanTurf heads over to Spring Valley, a Northwest neighborhood known for having some of the largest and highest priced homes in the city.
Spring Valley has seen a 45 percent drop in total dollar sales volume in 2015, and the median sales price has also declined, dropping about 15 percent to $1.4 million. Both of these moves can be attributed to the fact that a lower percentage of large homes have sold this year. For example, 40 four-bedroom homes sold in 2014; in 2015, that number has dropped to 20. As such, the average list price this year is about $300,000 lower than 2014 ($1.6 million compared to $1.9 million). The median sales price in 2015 is hovering around $1.4 million.
Homes are selling 13 percent faster in 2015, dropping from a median days on market of 60 days in 2014 to 52 days this year. Just over 40 percent of the homes sold this year did so within the first 10 days of being listed.
story continues below
loading...story continues above
A few other notable highlights from the neighborhood data:
- Spring Valley remains the land of single-family homes, as not one condo or co-op has sold so far this year.
- The average price for three-bedroom homes in the neighborhood is about $1.1 million, but when you go up to four bedrooms, that number jumps to $1.75 million.
UrbanTurf used data on the legal Spring Valley subdivision from real estate data firm RealEstate Business Intelligence for this article.
Similar Posts:
- Home Price Watch: Prices Rise 16 Percent in Dupont Circle
- Home Price Watch: Up In Michigan Park
- Home Price Watch: The Neighborhood Where You Will Pay Above Asking
- Home Price Watch: The 35 Percent Increase in Anacostia
- Home Price Watch: A Good Year for AU Park
- Home Price Watch: Woodridge Prices Shoot Up 20 Percent
- Home Price Watch: The Very Fast Moving Market of Logan Circle
- Home Price Watch: Home Prices in LeDroit Park Increase 14 Percent
- Home Price Watch: Prices Edge up Slightly in Palisades
- Home Price Watch: Prices Jump 13 Percent in Brightwood
- Home Price Watch: Trinidad, Where Prices Jumped 7 Percent
- Home Price Watch: Eckington, Where Median Prices Jumped 19 Percent
- Home Price Watch: The Very Active Housing Market in Columbia Heights
- Home Price Watch: Cash is King in Georgetown
See other articles related to: home price watch, spring valley, spring valley housing prices
This article originally published at https://dc.urbanturf.com/articles/blog/home_price_watch_a_look_at_spring_valley/10416.
Most Popular... This Week • Last 30 Days • Ever
In this edition of First-Timer Primer, we look at the ins and outs of the 203k loan.... read »
The largest residential conversion planned in the neighborhood is continuing to move ... read »
Plans for the large new residential project are looking to get started again after mo... read »
The residential pipeline in Adams Morgan has slowed in recent years, and now there ar... read »
The Wall Street Journal is reporting that Jeff Skoll has purchased two homes on nine ... read »
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