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
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