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Home Price Watch: Home Sales Shoot Up in Glover Park

  • November 3, 2015

by Tianna Mañón

Home Price Watch: Home Sales Shoot Up in Glover Park: Figure 1
A Glover Park home currently on the market.

Home sales in Glover Park shot up in 2015, as the rest of the housing metrics for the neighborhood market remained relatively flat.

The neighborhood that sits just to the north of Georgetown saw a 34 percent increase in sales volume between 2014 and 2015, and a 32 percent increase in the number of units that sold. Specifically, 77 homes have sold so far in 2015 compared to 58 last year.

A look at a number of other statistics reveals that things haven’t changed much since 2014. Median sales prices have risen 1.2 percent, from $365,500 to $369,900. Similarly, the average list price rose less than one percent, and the average sales price-to-original list price ratio increased just about 1.6 percent.

The average days on market figure, however, did jump by about two weeks — from 37 days to 54 days — but this is largely due to a number of outlier homes that took a few months to sell.

Home Price Watch: Home Sales Shoot Up in Glover Park: Figure 2
 Click to enlarge.

Other takeaways from this data:

  • Most of the homes were conventionally financed, although 15 were cash transactions, suggesting some investment activity.
  • 43 percent of the homes sold this year were condos, and 15 more units sold in 2015 than 2014, contributing heavily to the overall increase in sold dollar volume.

UrbanTurf used data on the legal Glover Park 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_glover_park_up_across_the_board/10538

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