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Home Price Watch: Prices Edge up Slightly in Palisades

  • July 13, 2015

by Tianna Mañón

Home Price Watch: Prices Edge up Slightly in Palisades: Figure 1
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.

Home Price Watch: Prices Edge up Slightly in Palisades: Figure 2
Click to enlarge.

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.

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This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_palisades_2015/10110

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