Home Price Watch: Prices Stagnating in Glover Park

• October 3, 2014

by Lark Turner

A condo for sale in Glover Park.

In this week’s Home Price Watch, we’re taking a look at Glover Park, where prices have mostly stagnated compared to last year.

Using year-over-year data from RealEstate Business Intelligence, we analyzed segmented data showing a year-over-year snapshot of the legal Glover Park subdivision between January-August 2013 and January-August 2014.

Glover Park is roughly bounded by Glover Archbold Park to the south and west, Fulton Street to the north, and Wisconsin Avenue to the east.

Home sales in Glover in 2014 are not as brisk as they were last year. In 2013, 68 units sold in the first eight months of the year, and in 2014, that number dropped to 53 during the same period. The median sales price also dropped off slightly, from $377,000 to $371,000. The average days home spend on the market in the neighborhood has also increased, from 26 last year to 36 this year.

Click to enlarge

Here are a few takeaways from the data:

• The average list price for homes in Glover Park fell from $533,879 last year to $518,465 in 2014.
• The price for attached homes — the vast majority of homes sold in the neighborhood — barely budged. It dipped just -0.82 percent, from $538,205 to $533,778. That’s likely the most accurate read of the home market in Glover Park.
• Though the days on market measure increased, not necessarily a good sign for sellers, the majority of homes sold in 2014 did so within the first 20 days of hitting the market.

This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_glover_park_where_sales_have_stayed_mostly_stagnant/9036