In this week’s Home Price Watch, we head just north of UrbanTurf headquarters to LeDroit Park where prices have risen in 2015 even as sales dropped off.
The median sales price of LeDroit Park homes increased about 14 percent in 2015, rising to $725,000 from $640,000 in 2014. And the folks that listed their homes this year likely got more than they were asking for. The sales to original list price ratio for the neighborhood is 103 percent for the first six months of 2015.
While prices are on the rise, 2015 is not quite as hot a year from the sales perspective as 2014 was in LeDroit. Total sales volume dropped 11 percent, and the total number of units sold fell by 20 percent, from 59 to 47.
Here are a few other takeaways from the data:
- Like virtually everywhere in DC, the market in LeDroit Park is moving quickly. 48 percent of the homes sold in the neighborhood this year did so in the first 10 days they were on the market.
- There were only seven all-cash sales in the neighborhood this year, an indication that its reputation as a place where investors come to find flips is waning.
UrbanTurf used data on the legal LeDroit Park subdivision from real estate data firm RealEstate Business Intelligence for this article.
- 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
This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_ledroit_park_sells_fewer_units_but_for_more/10137
Most Popular... This Week • Last 30 Days • Ever
Here's what you need to know about reporting profit made from the sale of your home.... read »
A final look for the year at the DC neighborhoods where home values rose the most thi... read »
Residential development in this jurisdiction-straddling neighborhood got a major kick... read »
A new residential development is on the boards in DC and the design is reminiscent of... read »
DC Council initially passed a bill to regulate short-term rentals over three years ag... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
A Tysons development has the area's five tallest buildings on the boards.... read »
Homeowners will be able to expedite the ADU approval process with two options for one... read »
A rezoning may be in the works for the AutoZone site.... read »
The priciest condo to ever sell in DC just closed last week, nearly a month after the... 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 »
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