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Home Price Watch: Dupont Circle, Where Buying is Just as Expensive as Last Year

  • May 27, 2014

by Lark Turner

Home Price Watch: Dupont Circle, Where Buying is Just as Expensive as Last Year: Figure 1

In this week’s Home Price Watch, UrbanTurf’s taking a look at Dupont Circle using segmented data from real estate data firm RealEstate Business Intelligence (RBI). This data reflects a year-over-year snapshot between the first quarter of 2013 and 2014.

The neighborhood is roughly defined by M Street to the south, 22nd to the west, Florida Avenue to the northwest, and 16th Street to the east, though RBI uses data from listings to calculate the borders of neighborhoods.

As we’ve seen in other popular neighborhoods in the DC area, like Capitol Hill, Dupont had slightly fewer sales and higher list prices this year compared to last.

Home Price Watch: Dupont Circle, Where Buying is Just as Expensive as Last Year: Figure 2
Click to enlarge.

Here are some more takeaways from the data:

  • Though average list prices rose about 20 percent, the median sales price barely changed, a clear sign that a big sale or two in the neighborhood swayed the average.
  • That 1-2 big sale effect can also be seen in the shift with average sold prices. The median sold price was $406,500, up from last year’s $401,388, but only by 1.27 percent. By contrast, the average sold price rose 16 percent.
  • Homes are spending a little less time on the market this year — 41 days in 2013 versus 35 days this year.
  • Just over half (13 of 24) of the homes sold so far in 2014 were on the market for 20 days or less.

This article originally published at https://dc.urbanturf.com/articles/blog/home_price_watch_dupont_circle_buying_as_expensive_as_last_year/8533

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