loading...

Home Price Watch: Takoma Park Prices Rise 20 Percent

by Nena Perry-Brown

Home Price Watch: Takoma Park Prices Rise 20 Percent: Figure 1
A home in Takoma Park

During the first half of 2016, UrbanTurf has been examining how home prices have fared throughout the DC metro area over the past 8 years. However, it is also important to see how neighborhood markets have performed thus far this year compared to the first half of 2015.

This week’s Home Price Watch puts the spotlight on Takoma Park, Maryland, where home prices have risen 20 percent since this time last year.

Home Price Watch: Takoma Park Prices Rise 20 Percent: Figure 2
Click to enlarge.

Through the first five months of 2016, homes in Takoma Park sold for a median of $475,000, compared to $395,000 over the same timeframe in 2015. Despite the jump in prices, homes are selling for 96.9 percent of their original listing price rather than 99.9 percent as they were around this time last year.

Some other interesting findings for the first half of 2016 are that:

  • At 52, the number of homes sold thus far this year is pretty consistent with the same timeframe last year.
  • Despite an increase in prices, homes are spending nearly 14 percent longer on the market in 2016.
  • Homes in Takoma Park are being listed for an average price of $503,511 — 15 percent higher than they were listed at this time last year.

Housing data for the legal subdivision of Takoma Park for this article was provided by RealEstate Business Intelligence.

See other articles related to: takoma park, home price watch

This article originally published at https://dc.urbanturf.com/articles/blog/home_price_watch_takoma_park_twenty_percent/11406

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!