A home on Albemarle Street in AU Park.
All signs point to American University Park’s housing market having a very good year.
The number of homes sold and the total dollar sales volume are both up approximately 22 percent compared to last year, and prices have risen as well in 2015. Through July, the median price of homes in the neighborhood jumped six percent from $910,000 to $965,000. Of the 63 homes sold in 2015, 41 sold in ten days or less.
The sustained health of the housing market might be the result of an increase in sales of large, detached homes. Fifty of the homes sold in AU Park in 2015 were detached and 45 were three-bedroom homes or larger. This is a 32 percent increase compared to last year.
A couple more highlights from the neighborhood’s data:
- 75 percent of home purchases were conventionally financed, suggesting most sales were to buyers looking to join the community not flip homes.
- The average sale-to-list price ratio still sits above 100 percent, evidence that homes are selling for above asking more often than not.
UrbanTurf used data on the legal American University Park subdivision from real estate data firm RealEstate Business Intelligence for this article.
- Home Price Watch: Woodridge Prices Shoot Up 20 Percent
- Home Price Watch: The Very Fast Moving Market of Logan Circle
- Home Price Watch: Home Prices in LeDroit Park Increase 14 Percent
- 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_soaring_interest_in_american_university_park/10277
Most Popular... This Week • Last 30 Days • Ever
A new residential development is on the boards in DC and the design is reminiscent of... read »
Residential development in this jurisdiction-straddling neighborhood got a major kick... read »
DC Council initially passed a bill to regulate short-term rentals over three years ag... read »
The DC area is not known for the very high home prices of New York or Los Angeles. Bu... read »
A new rendering provides a better sense for how Adams Morgan's former Brass Knob ware... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
Here's what you need to know about reporting profit made from the sale of your home.... read »
A final look for the year at the DC neighborhoods where home values rose the most thi... read »
A Tysons development has the area's five tallest buildings on the boards.... read »
Homeowners will be able to expedite the ADU approval process with two options for one... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... 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. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro