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North Cleveland Park: DC’s Million-Dollar, Above-Asking Neighborhood

by UrbanTurf Staff

A home that sold in North Cleveland Park earlier this year.

UrbanTurf is taking its annual look at the neighborhood housing markets around the DC region. Today, we head over to North Cleveland Park.

This small northwest neighborhood has been one of DC's most active and competitive housing markets for several years. While home prices dipped this year, the market has all the calling cards of a competitive market including a low supply of homes for sale,  a contract ratio above 1.0 and a high average sales price to original list price ratio.

Below, UrbanTurf plucked out a few more statistics about the neighborhood market. 

  • $1.05 million -- The median sales price of a home in North Cleveland Park in 2019, down 6 percent compared to last year.
  • 101% -- The average sales price to original list price ratio for homes in the neighborhood. 
  • 55 percent -- The percentage of homes that sold within the first ten days of being listed. 
  • 23 days -- The supply of homes for sale in June. 
  • 1.33 -- The contract ratio in June (the total number of homes under contract in a given period to the overall number of active listings). 

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This article originally published at http://dc.urbanturf.com/articles/blog/north-cleveland-park-dcs-million-dollar-above-asking-neighborhood/15717

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