A home in Shaw that sold earlier this year.
The rising home prices among certain property segments in Shaw is astonishing, even by DC standards.
Over the last 12 months, the median sales price for all homes in the central DC neighborhood jumped 17 percent. A more granular look at the data, however, shows that the average price for condos jumped from $586,000 to $743,000, a 27 percent increase. The price increase for three-bedroom row houses is even more noteworthy — a jump of 35 percent from $698,000 to $939,000.
And it’s not just prices that evidence the heat of the Shaw market. The median days on market for homes sold this year dropped 29 percent — 24 days to 17 days — compared to last. The average sales price to original list price ratio is also one of the highest in the city at 102.9 percent, a statistic in line with those above and a clear indication that homes are regularly selling above list price.
Other notable information from this data:
- Most of the home sales were conventionally financed, suggesting there is little investment activity in these purchases.
- Six months was the longest a home in Shaw sat on the market in 2015.
UrbanTurf used data on the advertised Shaw subdivision from real estate data firm RealEstate Business Intelligence for this article.
- Home Price Watch: The Hot Market in Crestwood
- Home Price Watch: A Look at Spring Valley
- 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
This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_condo_prices_rise_27_percent_in_shaw/10598
Most Popular... This Week • Last 30 Days • Ever
DC's homebuyer assistance programs can be a bit complex. This edition of First-Timer ... read »
The most detailed rendering yet has been unveiled for the 310-unit redevelopment of t... read »
A look around DC to find the most equity-rich neighborhoods.... read »
Just a month after setting a new high in March, the value of a house in DC skyrockete... read »
The National Capital Planning Commission will consider approval of the final master p... read »
Our guide for amateur landlords who don't really know what they're doing.... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
When you buy a home in the District, you will have to pay property taxes along with y... read »
The eight-bedroom, 35,000 square-foot home known as The Cliffs hit the market Wednesd... read »
Brookfield Properties is moving forward with development plans for additional sites i... 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 »
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