A Trinidad home that is now under contract.
In this week’s installment of Home Price Watch, UrbanTurf takes a look at Trinidad, where sales are heating up despite prices remaining flat.
Thus far in 2017, the housing market in the Northeast DC neighborhood has seen significantly higher sales volume than last year, with dollar volume and number of units sold rising by 20 percent and 15 percent, respectively. Homes are also selling much faster than last year, selling on average in 40 days rather 52 last year.
The increased and rapid sales pace could be attributed to the fact that, unlike other neighborhoods in DC, prices haven’t risen in Trinidad this year. Average prices dropped slightly for the neighborhood’s most popular property type — rowhouses with three or more bedrooms, and condo prices dropped by about 5 percent.
Months of supply in Trinidad
Also bucking another citywide trend, the housing supply in the neighborhood more than doubled over the past year, from 0.93 months’ worth in May 2016 to over two months in May 2017.
Housing data for the legal subdivision of Trinidad was provided by RealEstate Business Intelligence. Ledroit Park is nestled between Bladensburg Road NE and Florida, West Virginia and New York Avenues NE.
This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_sales_rise_in_trinidad_as_prices_remain_flat/12683
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