Home Price Watch: Sales Drop as Listing Prices Rise in Dupont Circle

Dupont Circle
For this edition of Home Price Watch, UrbanTurf heads over to Dupont Circle, a neighborhood in one of the city’s lowest-priced zip codes where sales have dropped off noticeably in 2017.
While Dupont Circle has long been a popular DC neighborhood for home buyers, it seems that listing prices have gotten somewhat aspirational, which might be the cause for the drop in sales. Compared to last year, there has been a significant increase in the average list price of homes for sale (up 23 percent to $703,837), while the number of sales thus far this year has fallen by 31 percent.

Dupont Circle is a neighborhood of two property types — condos/co-ops and high-priced townhomes — and that property breakdown was evident in the sales figures this year. Condos and co-ops represented 85 percent of sales in 2017, with an average sales price of $498,598. The remaining sales were on the other end of the spectrum, with average sales prices for townhomes with 4 or more bedrooms up 13 percent to $2.2 million.
Housing data for the advertised subdivision of Dupont Circle was provided by RealEstate Business Intelligence. Dupont Circle is generally considered to be bound by 22nd Street, Florida Avenue and U Street to the west and north, 15th Street to the east and M Street to the south.
See other articles related to: dupont circle, dupont circle home prices, home price watch
This article originally published at https://dc.urbanturf.com/articles/blog/home_price_watch_sales_drop_as_listing_prices_rise_in_dupont_circle/12940.
Most Popular... This Week • Last 30 Days • Ever

In this edition of First-Timer Primer, we look at the ins and outs of the 203k loan.... read »

The largest development on the boards for the H Street Corridor will go before DC's B... read »

Today, we highlight the five DC neighborhoods that have been the most affordable to h... read »

A federal government shutdown at the end of this week looks more and more likely, and... read »

The national housing market has gained a tremendous amount of value in recent years, ... 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. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro