What's Hot: Barnes and Noble Returns To Georgetown Next Week | How An Unmarried Couple Buys A Home Together
Housing Inventory Hits a Five-Year High in Mount Pleasant
✉️ Want to forward this article? Click here.
So far this year, Mount Pleasant has been one of the most in-demand housing markets in the city, with homes selling in a median of 9 days.
Now, for Home Price Watch this week, UrbanTurf takes a closer look at the neighborhood, where high demand means prices are still increasing, but more listings are also on the market.
Neighborhood home prices have risen 6 percent this year, from $597,000 to $635,000. The price increase has been led by a 23 percent rise in the average price of three-bedroom rowhouses.
Higher prices haven't dampened enthusiasm much in the neighborhood. While slightly down from last year, the average sale price to original list price ratio still sits above 100 percent. Additionally, 67 percent of homes on the market sold within three weeks of hitting the market.
story continues below
loading...story continues above
This high demand has not gone unnoticed by neighborhood homeowners, more of whom have been putting their homes on the market. Inventory levels shot up to a 2.45-month supply in June, the highest inventory level for the neighborhood since October 2012.
It is worth noting that although three-bedroom rowhouses have seen the greatest price increase in the neighborhood, the Mount Pleasant market has been dominated by condos this year. Out of 108 listings sold thus far this year, 80 have been condos, and 75 percent of active listings are also condo units.
Housing data for the legal subdivision of Mount Pleasant for this article was provided by RealEstate Business Intelligence. The Mount Pleasant neighborhood is to the southeast of Rock Creek Parkway and Beach Drive, north of Harvard Street and west of 16th Street NW.
See other articles related to: home price watch, mount pleasant, mount pleasant home prices
This article originally published at https://dc.urbanturf.com/articles/blog/inventory-hits-a-five-year-high-in-mount-pleasant/14250.
Most Popular... This Week • Last 30 Days • Ever
Estate taxes, also known as inheritance taxes or death duties, are taxes imposed on t... read »
In this article, UrbanTurf will explore the considerations and steps involved in buyi... read »
The most expensive home to sell in the DC region in years closed on Halloween for an ... read »
Paradigm Development Company has plans in the works to build a 12-story, 110-unit con... read »
The map and text amendment applications that were filed with the Commission last Octo... read »
- What Are Estate Taxes and How Do They Work?
- How An Unmarried Couple Buys a Home Together
- The Cliffs in McLean Sells For $25.5 Million, Highest Home Sale In DC Area In Years
- 110-Unit Condo Project Planned in Alexandria Coming Into Focus
- The Zones That Could Lead To More Development in Chevy Chase Set To Go Before Zoning Commission
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