Home Price Watch: Eckington, Where Median Prices Jumped 19 Percent
✉️ Want to forward this article? Click here.
A home in Eckington that sold earlier this year.
In this week’s Home Price Watch, we take a look at Eckington, which saw a 19 percent increase in its median sold price. The median sold price from January to May of this year was $595,000, a 19 percent rise from the same period last year, when it was $500,000.
The average list price for sold homes has also increased this year, jumping 16 percent from $499,797 to $580,232. Homes are generally selling above their list price, too; the average sold price to the original listing price ratio was 103 percent, an increase of 3.5 percent over last year and an indication that Eckington is definitely a seller’s market.
story continues below
loading...story continues above
The majority of the homes were conventionally financed, indicating most weren’t purchased by investors. Sales of three- and four-bedroom or more homes were the most common, making up 65.5 percent of the units sold.
And most of the homes in the neighborhood are selling pretty quickly. 33 of the 61 units sold this year were on the market for 10 days or less. Still, in a slower point for the neighborhood, homes spent an average of 42 days on the market during the time period, up 15 days from the same period last year.
UrbanTurf used data on the legal Eckington subdivision from real estate data firm RealEstate Business Intelligence for this article.
Similar Posts:
- Home Price Watch: The Very Active Housing Market in Columbia Heights
- Home Price Watch: Cash is King in Georgetown
- Home Price Watch: The Increasingly Competitive Market in Bloomingdale
- $1 Million is the New Normal in Chevy Chase DC
- Home Price Watch: A 38 Percent Rise in Takoma Park
- Home Price Watch: Petworth, Where Prices Are Up 23 Percent
See other articles related to: eckington, home price watch
This article originally published at https://dc.urbanturf.com/articles/blog/home_price_watch_eckington_where_median_prices_jumped_19_percent/9988.
Most Popular... This Week • Last 30 Days • Ever
Post Brothers purchased the building at 2100 M Street last year.... read »
The new residential project would take the place of largely vacant office buildings a... read »
This 5,000 square-foot listing is about as close as the city comes to a property that... read »
Back in July, we wondered if the housing market in the DC region was moving in favor ... read »
Mount Pleasant restaurant gets national acclaim; signs of good things in the DC-area ... 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