What's Hot: Four Units Here, 70 Units There: The Georgetown Residential Pipeline | A Mortgage Program for Doctors New To the DC Area
Home Price Watch: Higher Sales, Flatter Prices in LeDroit Park

Homes in LeDroit Park.
For this week’s edition of Home Price Watch, UrbanTurf takes a look at LeDroit Park, the small DC neighborhood adjacent to Shaw where home sales rose this year, but prices haven’t kept up with the increased activity.
Thus far in 2016, the neighborhood’s median sales price has only ticked up marginally, from $690,000 to $700,000.
Despite the meager increase in price, overall sales volume has risen by nearly 13 percent, with 80 dwellings purchased this year compared to 71 last year. There aren’t many detached homes for sale in LeDroit Park, which is why it was surprising that seven have sold so far in 2016 compared to zero last year. Of the eighty homes sold this year, just over 50 percent found buyers within the first ten days on the market.
story continues below
loading...story continues above
While prices plateaued a bit this year, the high volume of sales may have led to dwellings getting listed at more ambitious prices. Last year, the average asking price was $668,551 and homes sold at an average of 103 percent of their listing price. During the same period this year, the average listing price rose by 14 percent to $762,815, but homes are selling at an average of 99.5 percent of the list price.
Supply has vascillated over the past year, but this past September had the second-highest level of inventory in the past 12 months, at 1.56 months’ worth compared to three weeks last September.
Housing data for the legal subdivision of LeDroit Park for this article was provided by RealEstate Business Intelligence. LeDroit lies north of Florida Avenue NW between Georgia and Rhode Island Avenues, and bound by W Street to the north and 2nd Street to the east.
Similar Posts:
- Home Price Watch: A Tale of Two Markets in Palisades
- Why North Cleveland Park Is One of DC’s Hottest Housing Markets
- The Effects of the Chronically Low Housing Supply in AU Park
- Home Sales Increase 50 Percent in Bloomingdale as Supply Dives
- Home Price Watch: The High Volume Market of Columbia Heights
- Logan Circle Market on Cruise Control as Median Prices Approach $700,000
- Higher Prices, More Competition: The True Heat of the Anacostia Housing Market
- Home Price Watch: A 10 Percent Increase in 16th Street Heights
- Home Price Watch: Prices Rise 21 Percent in Deanwood
- Georgetown Home Buyers Still Cash-Rich and Quick to Commit
- Home Price Watch: Homes Selling Fast in Eckington as Supply Increases
- The Mount Pleasant Housing Market Steps on the Gas
- Home Price Watch: Takoma Park Prices Rise 20 Percent
- Home Price Watch: The Fast-Moving Market in Petworth
See other articles related to: ledroit park market, ledroit park, housing prices, housing market trends, housing market, housing inventory, home sales, home prices, home price watch, dc housing prices, dc housing inventory, dc home sales, dc home prices, dc home and condo prices, dc area market trends
This article originally published at http://dc.urbanturf.com/articles/blog/hpw_turnover_up_prices_flat_ledroit_pk/11866
Most Popular... This Week • Last 30 Days • Ever

UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »

The Q1 2021 crane count shows DC in the lead.... read »

A zoning hearing is scheduled for later this month.... read »

UrbanTurf looks at one of our favorite metrics regarding competition in the housing m... read »

Applications will open today for up to 18 months of rental and utility assistance.... read »
- A Virtual Tour of More Than 35 DC-Area Developments
- DC Has the Most Cranes in the Sky of Any U.S. City
- A More Vivid Look at 557-Unit Development Proposed Near Dave Thomas Circle
- The 7 DC Neighborhoods Where You Aren't The Only Person Bidding on a Home
- DC Announces New $352 Million Rent Assistance Program
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. Visit guides.urbanturf.com or 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