Home Price Watch: Seeing Double in the U Street Corridor
✉️ Want to forward this article? Click here.
It likely won’t come as a surprise to many UrbanTurf readers that the real estate market in the U Street Corridor had a pretty good year.
Overall sales volume for the neighborhood more than doubled from $12.29 million to $28.89 million in 2015. The number of listings that sold, virtually all condos and co-ops, increased from 22 units in 2014 to 47 units this year.
story continues below
loading...story continues above
The median sales price for the area stayed about the same, rising just three percent to $614,865. While prices didn’t move much, homes in the neighborhood flew off the market: 70 percent of listings sold within the first ten days of hitting the market in 2015.
A few more takeaways from the data:
- The average sales price to original list price ratio sits just above 100 percent, suggesting that homes are selling at or above asking.
- Just five of the 47 sales in the neighborhood this year were not condos or co-ops.
- No home in the neighborhood that sold in 2015 was listed for longer than four months.
For the purposes of this article, UrbanTurf defines the U Street Corridor as east of 16th Street NW, west of 8th Street NW, north of T Street and south of V Street.
Similar Posts:
- Home Price Watch: Forest Hills Remains a Tale of Two Markets
- Home Price Watch: Home Sales Shoot Up in Glover Park
- Home Price Watch: Up and Down in Hillcrest
- Home Price Watch: The Hot Market in Crestwood
- Home Price Watch: A Look at Spring Valley
- Home Price Watch: Prices Rise 16 Percent in Dupont Circle
- Home Price Watch: Up In Michigan Park
- Home Price Watch: The Neighborhood Where You Will Pay Above Asking
- Home Price Watch: The 35 Percent Increase in Anacostia
- Home Price Watch: A Good Year for AU Park
- 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
See other articles related to: home price watch, u street corridor
This article originally published at https://dc.urbanturf.com/articles/blog/home_price_watch_u_streets_seeing_double/10677.
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 »
Plans for the large new residential project are looking to get started again after mo... read »
The Wall Street Journal is reporting that Jeff Skoll has purchased two homes on nine ... read »
The residential pipeline in Adams Morgan has slowed in recent years, and now there ar... read »
The Sidney features 48 beautifully designed condos, and is one of DC’s only large c... 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