A home on Macarthur Terrace in Palisades.
In this week’s Home Price Watch, UrbanTurf heads over to Palisades, a neighborhood to the west of Georgetown where homes don’t come on the market very frequently.
Between January and June 2015, the median sales price of homes in the Palisades increased 2.8 percent from $905,000 to $930,500, a small but notable increase when contrasted with the drop in total sales volume, which fell 23 percent.
Some more takeaways from the data:
- The average time that homes are spending on the market increased 28 percent, from 42 days in 2014 to 54 days this year.
- Most of the homes sold this year were conventionally financed, suggesting investors aren’t active in the area.
- Sellers are getting about the same amount as 2014 sellers. The data showed a negligible one percent increase, from 99 percent last year to 98 percent.
UrbanTurf used data on the advertised Palisades subdivision from real estate data firm RealEstate Business Intelligence for this article.
- 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
- Home Price Watch: The Increasingly Competitive Market in Bloomingdale
- $1 Million is the New Normal in Chevy Chase DC
- Home Price Watch: A 38 Percent Rise in Takoma Park
- Home Price Watch: Petworth, Where Prices Are Up 23 Percent
This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_palisades_2015/10110
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