With the spring housing market transitioning to summer, UrbanTurf continues its annual look at the neighborhood markets around the DC region. Today, we head over to Palisades.
Like many other neighborhoods around DC, prices have risen very modestly in Palisades so far in 2023. Unlike most other neighborhoods, home sales did not drop off, rising 14% compared to the same time last year. Part of this rise in sales could be the result of an increase in the supply of homes for sale, which is up 80% compared to April 2022.
Below are some additional statistics we picked out about the Palisades market.
- $1,648,000 -- The median home price in Palisades.
- 16 -- The number of homes that sold in the neighborhood this year, up 14% compared to last year.
- 50% -- The percentage of homes that sold in ten days or less.
- 1.5 months -- The supply of homes for sale in April, up 80% compared to April 2022.
- 1.20 -- The contract ratio for Palisades in the first quarter of the year.
- Fairly Balanced: The Logan Circle Market, By the Numbers
- Sales Down, Prices Flat: The Capitol Hill Housing Market, By the Numbers
This article originally published at https://dc.urbanturf.com/articles/blog/prices_up_and_sales_follow_suit_the_palisades_housing_market_by_the_numbers/21126.
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