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LeDroit Park, The DC Neighborhood Where Home Prices Are Up 50%

by UrbanTurf Staff

A home for sale in LeDroit Park. 

As we hit the middle of summer, UrbanTurf is continuing to take a look at the neighborhood housing markets around the DC region. Today, we head over to LeDroit Park. 

The small NW DC neighborhood sandwiched between Shaw and Bloomingdale has seen some of the highest home price appreciation in the city this year, with prices rising 50%. In a neighborhood like LeDroit Park, appreciation like this could usually be attributed to a higher number of condo and co-op units selling this year compared to last. But in fact the opposite happened with condo sales doubling in 2021. In addition to rising home sales and prices, the supply of homes for sale is down notably compared to 2020 and competition remains high. 

Below are some of the more interesting statistics about the LeDroit Park market.

  • $765,000 -- The median home sales price in 2021, up 49% compared to 2020. 
  • 47 -- The number of homes that have sold in the neighborhood in 2021, a 113% increase compared to last year.
  • 1.0 -- The months of supply of homes for sale in DC last month, down 73% compared to last year.
  • 1.75 -- The contract ratio in June, meaning that almost two homes went under contract in the month for every active listing.
  • 57% -- The percentage of homes that sold within ten days of being listed in 2021.

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This article originally published at http://dc.urbanturf.com/articles/blog/ledroit-park-the-dc-neighborhood-where-home-prices-are-up-50/18506

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