With the spring housing market in full swing, UrbanTurf is taking its annual look at the neighborhood markets around the DC region. Today, we head over to 16th Street Heights.
Home prices shot up in the first five months of the year in this neighborhood along 16th Street just east of Rock Creek Park. Driving the price appreciation are the neighborhood's rowhouse stock: average prices are up 14% for three-bedrooms and nearly 20% for homes with 4+ bedrooms. The rise in prices is dampening sales like the rest of the city, with total sales volume down 40% compared to this time last year.
Below are some statistics that UrbanTurf compiled about the market in 16th Street Heights.
- $1.05 million -- The median home price in 2022, up 27% compared to last year at this time.
- 31 -- The number of homes sold so far in 2022, a 39% drop compared to same period in 2022.
- 103% -- The average sales price to original list price ratio for homes sold in the neighborhood this year.
- 17 -- The average number of days that homes are spending on the market in 2022, the same as last year.
- 1.86 -- The months of supply of homes for sale in May, up 80% compared to last May
- As Home Sales Drop, Prices Follow Suit in Hillcrest
- The Fastest Moving Prices in DC: The Palisades Market, By the Numbers
- Almost Always Above Asking: The AU Park Housing Market, By the Numbers
- Heavy Competition: The Del Ray Housing Market, By the Numbers
- Still One of DC's Priciest: The Georgetown Market, By the Numbers
- Low Supply, Big Premiums: The Chevy Chase Housing Market, By the Numbers
This article originally published at https://dc.urbanturf.com/articles/blog/how-townhomes-pushed-prices-up-30-in-16th-street-heights/19788.
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