Prices Up, Sales Down, Competition High: The Takoma Park Housing Market, By the Numbers
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UrbanTurf continues to take a look at the housing markets around the DC region and today, we head over to Takoma Park.
For years, Takoma Park has been one of the most competitive housing markets in the area, and that reputation remained intact this year even as prices rose and sales fell.
The median home price in the Maryland city is up 19% year-over-year to $655,000, but sales are down nearly 25% during that same period. Despite the drop in sales, the ratio of sales price to list price for homes in this section of Maryland is one of the highest anywhere in the region, an indication of serious competition among buyers.
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Below UrbanTurf plucked out several other interesting stats about the Takoma Park market.
- $908.733 -- The average sales price for a detached home with 4+ bedrooms.
- 1.38 -- The months of supply of homes for sale in July, up 80% compared to last July.
- 105.8% -- The average sales price to original list price ratio for Takoma Park this year.
- 63% -- The percentage of homes that have sold in ten days or less this year.
Photo Courtesy HD Bros
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See other articles related to: takoma park, takoma park housing market
This article originally published at https://dc.urbanturf.com/articles/blog/prices-up-sales-down-the-takoma-park-housing-market-by-the-numbers/20029.
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