Inside a condo on New Hampshire Avenue
This week in Home Price Watch, UrbanTurf heads to Dupont Circle, where all metrics are pointing to a pretty hot year for the neighborhood market.
The median sales price of homes rose 16.5 percent from last year, for $373,500 to $435,000 and the overall sold dollar volume is up 8 percent to $37.8 million. Three-bedroom homes in the neighborhood saw the largest price increase, rising almost 20 percent to a median of $1.4 million.
Compared to 2014, homes are flying off the market in Dupont Circle this year. The average days on market is 18, 33 percent lower than the 27 days at this point last year. Forty of the 67 homes listed this year went under contract within ten days of being listed, and not one home has sat on the market for longer than three months.
The last statistic that is a telling indicator of the health of the market is the average sold price to original list price ratio for the neighborhood, which currently sits at 100.3 percent for the year.
UrbanTurf used data on the advertised Dupont Circle subdivision from real estate data firm RealEstate Business Intelligence for this article.
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This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_dupont_circle_high_neighborhood/10390
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