What's Hot: The 9 Developments and 1,250 Units in the Works For Shaw | Summer Ready With Quick Move-In Homes at Brookland Grove
Home Price Watch: Forest Hills Remains a Tale of Two Markets
A home in Forest Hills.
The Forest Hills housing market essentially consists of two markets — the area around Connecticut Avenue made up of condos and co-ops, and the section of the neighborhood nestled near Rock Creek Park that is filled with million-dollar homes.
While the median sales price has risen about 10 percent this year in the neighborhood south of Chevy Chase, it is important to look at the market in the context of these two segments.
story continues belowloading...
story continues above
Condos and co-ops make up the overwhelming volume of property sales in the neighborhood, accounting for 77 percent of sales this year. The average price for this segment rose 8 percent to just over $400,000. In contrast, virtually all of the remaining sales in the neighborhood were for four-bedroom homes. Specifically, 22 percent of sales in the neighborhood were four-bedrooms with an average sales price of $2 million, a 24 percent increase over 2014.
On average, homes are taking 49 days to sell in Forest Hills, however, the market is moving a little faster than that statistic suggests. Just over half of the homes listed this year sold within the first 20 days on the market.
- Home Price Watch: Home Sales Shoot Up in Glover Park
- Home Price Watch: Up and Down in Hillcrest
- 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
See other articles related to: forest hills, forest hills housing market
This article originally published at https://dc.urbanturf.com/articles/blog/home_price_watch_forest_hills_grows_condos_play_part/10631.
Most Popular... This Week • Last 30 Days • Ever
A piece of legislation quietly introduced in the House of Representatives earlier thi... read »
LEGO lovers will likely be first in line for the National Building Museum's latest ex... read »
If a neighborhood is filled largely with single-family homes, chances are the market ... read »
A look at the larger residential developments in the works from Cardozo to Mount Vern... read »
Airbnb's party crackdown; the return of Adams Morgan; the resurgence of Cleveland Par... read »
Virginia's homebuyer assistance programs can seem complex. This edition of First-Time... read »
The residential projects that have sprouted up on the Maryland and DC sides of the Fr... read »
With a groundbreaking ceremony on Wednesday, the redevelopment of the Georgetown Wes... read »
The 23,600 square-foot mansion just hit the market, and would set a record if it fetc... read »
The immaculately kept 100-year-old house features six bedrooms and four-and-a-half ba... 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 »
- First-Timer Primer: Virginia's Home Buyer Assistance Programs
- Mall Conversions, Trader Joes? The 1,500 Units in the Friendship Heights Pipeline
- The Four Seasons Private Residences in Georgetown Break Ground
- DC's Blaine Mansion Lists For $30 Million, A Potentially Record-Setting Price in the City
- Now Selling: A 16th Street Heights Victorian on an Island of Its Own
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