A home on the market in Hillcrest.
In this week’s Home Price Watch, UrbanTurf heads to the Ward 7 neighborhood of Hillcrest.
The price trajectory of homes in Hillcrest really depends on property type and size. While the median sales price for homes in the neighborhood has dropped 13.7 percent this year, the average price of a detached home increased 10 percent. A closer look at the detached home segment shows that prices for four-bedroom homes have jumped 25 percent, as two-bedroom prices have plummeted 47 percent.
Homes on the market in Hillcrest are sitting on the market about a week, or 17 percent, longer than last year, but four more homes have sold in 2015 compared to 2014.
Other interesting points from the Hillcrest neighborhood data:
- Cash transactions make up 33 percent of home sales in the neighborhood this year, suggesting a good deal of investor activity.
- 19 homes sold in the first 10 days on the market. In contrast, 19 other homes were on the market for over two months.
UrbanTurf used data on the legal Hillcrest subdivision from real estate data firm RealEstate Business Intelligence for this article.
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This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_up_and_down_in_hillcrest/10508
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