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Surging: The Takoma Park Housing Market, By the Numbers

  • July 28, 2021

by UrbanTurf Staff

Inside a home that sold in Takoma Park earlier this year.

UrbanTurf continues to take a look at the housing markets around the DC region and today, we head over to Takoma Park.

Aside from DC's American University Park, it is hard to think of a housing market as competitive as Takoma Park this year. 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. Prices for detached homes with more than four bedrooms have risen 45% this year, as the supply of homes for sale has fallen 36% compared to 2020, and now stands at just a 3-week inventory.

Below UrbanTurf plucked out several other interesting stats about the Takoma Park market.

  • $574,500 -- The median home price in Takoma Park, an increase of 13% compared to 2020. 
  • $905,408 -- The average sales price for a detached home with 4+ bedrooms, up 45% compared to last year.
  • 0.75 -- The months of supply of homes for sale in June, down 36% compared to last year. 
  • 105.1% -- The average sales price to original list price ratio for Takoma Park this year, one of the highest ratios in the region.
  • 1.83 -- The contract ratio for the neighborhood in the second quarter, up 138% compared to the second quarter of 2020. 

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This article originally published at http://dc.urbanturf.com/articles/blog/surging-the-takoma-park-housing-market-by-the-numbers/18545

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