What's Hot: Barnes and Noble Returns To Georgetown Next Week | How An Unmarried Couple Buys A Home Together
Home Price Watch: The 33% Price Increase in Crestwood
✉️ Want to forward this article? Click here.
A home in Crestwood that sold in October.
While sales volume is down, virtually every other metric in DC’s Crestwood neighborhood, including home prices, shot up in 2017.
In Home Price Watch this week, UrbanTurf heads over to the neighborhood nestled between 16th Street and Rock Creek Park where the median home sales price rose 33 percent in 2017, increasing almost $300,000 compared to 2016. The average listing price for homes followed suit, jumping 23 percent, from $978,543 to $1,206,900.
story continues below
loading...story continues above
While prices have gone up, sales dropped off by about 18 percent in a neighborhood where less than thirty homes sell annually. Despite the drop in sales volume, homes are selling much faster than last year (19 days versus 24 days) and are also selling at closer to list price.
Here are a few more takeaways from the data:
- 2017 was the first year ever that median home sales prices in Crestwood exceeded $1 million for the whole year.
- 60 percent of the homes sold in the neighborhood this year did so within ten days of being listed.
UrbanTurf used data on the legal Crestwood subdivision from real estate data firm RealEstate Business Intelligence for this article.
See other articles related to: crestwood, crestwood home prices
This article originally published at https://dc.urbanturf.com/articles/blog/home_price_watch_the_33_price_increase_in_crestwood/13333.
Most Popular... This Week • Last 30 Days • Ever
Estate taxes, also known as inheritance taxes or death duties, are taxes imposed on t... read »
In this article, UrbanTurf will explore the considerations and steps involved in buyi... read »
The most expensive home to sell in the DC region in years closed on Halloween for an ... read »
Paradigm Development Company has plans in the works to build a 12-story, 110-unit con... read »
Washingtonian is reporting that the national bookstore chain will open its doors the ... 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