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Home Price Watch: Woodridge Prices Shoot Up 20 Percent

by Tianna Mañón

Home Price Watch: Woodridge Prices Shoot Up 20 Percent: Figure 1
The backyard of a home in Woodridge.

UrbanTurf has been a big advocate of the Woodridge neighborhood, largely due to its attractive yet affordable homes, at least by DC standards. Now it seems the affordability factor may be diminishing.

The neighborhood, sandwiched between Brookland and Mount Rainier, has seen home prices and sales shoot up in the last 12 months, reflecting its transition from a little known neighborhood on the edge of DC to one that budget conscious buyers have flocked to.

The median sales price for homes in the neighborhood rose 20.5 percent, from $399,900 to $482,000, between 2014 and 2015. The number of homes sold in 2015 jumped almost 25 percent and the total sales volume sits at $34 million, a 47 percent increase over last year.

Home Price Watch: Woodridge Prices Shoot Up 20 Percent: Figure 2
Click to enlarge.

A few more highlights on the Woodridge market this year:

  • 55 of the 71 sales in 2015 were conventionally financed or financed through the FHA, an indication that most of the buyers are owner-occupants.
  • Sixty of the 71 homes sold in 2015 were three- and four-bedroom properties.

UrbanTurf used data on the legal Woodridge subdivision from real estate data firm RealEstate Business Intelligence for this article.

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This article originally published at https://dc.urbanturf.com/articles/blog/home_price_watch_woodridge_market_on_the_rise/10229

6 Comments

  1. Eponymous said at 6:22 pm on Wednesday August 12, 2015:
    Given that Brookland has been even more popular given its proximity to the new developments, I would be very interested to see one of these on 20017.
  1. Mark Wellborn said at 6:54 pm on Wednesday August 12, 2015:
    Eponymous, We will cover the Brookland market in the coming month. We are also putting together an updated profile on the neighborhood that will run in September. The Editors
  1. Eponymous said at 9:08 pm on Wednesday August 12, 2015:
    Will look for it - thanks! Thanks also for all of your great coverage of Ward 5 developments.
  1. monademarkpv said at 7:21 pm on Friday August 14, 2015:
    You have had articles before where you put Langdon and WoodRidge together and referenced as one neighborhood. Do these number include Langdon? I would be curious because Langdon had to large >4bdr homes sell for >800k and wonder if those numbers are included
  1. Mark Wellborn said at 7:24 pm on Friday August 14, 2015:
    monademarkpv, RBI does not have a legal subdivision for Langdon, so we suspect that the Langdon data is incorporated into Woodridge, but we will look into it and try to get a better answer. The Editors
  1. FAMU_Mommy said at 5:32 pm on Friday October 30, 2015:
    Have you guy seen the house On Elm in Woodridge going for $825K? Kind of looks like a metal mushroom. It's a little out of place because the neighborhood is pretty traditional but it's kind cool!

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