What's Hot: Total Wine Coming To Friendship Heights | 256-Unit Project Proposed to Replace Rosslyn Buildings Moves Forward
The 10-Year Path of DC Home Prices in Four Charts
✉️ Want to forward this article? Click here.
When UrbanTurf launched way back in 2008, it was impossible to know the trajectory that home prices in DC would take over the next 11 years.
As prices in the city hit a record last month, we decided to take a closer look at that trajectory. Below we analyze four charts that show the path of home prices for a variety of property types over the last ten years.
In June, the median price for a home in Washington, DC hit $621,000, the highest level ever for the city. The median price represents a 63 percent increase compared to July 2009 (37 percent when adjusted for inflation), when the median price was a mere $381,000.
story continues below
loading...story continues above
The median price for detached single-family homes has not experienced quite as precipitous a rise, increasing 33 percent over the last decade from $625,000 to $830,000. However, the increase would be much higher if we measured up to April 2018 when detached home prices hit a record of $971,000.
If you owned a DC rowhouse in 2009, it is worth a lot more today. The price appreciation for rowhouses in the city is one of the most pronounced over the last decade and an indication of the rise in popularity of the property type. Rowhouse prices in DC shot up a whopping 81 percent (52 percent adjusted for inflation) increasing from $420,000 to $760,000.
In June, the median price for a condo in DC hit $480,000, just below the record high of $490,000 set in 2017. The rise in prices for condos over the last decade has been notable, increasing 37 percent (6 percent when adjusted for inflation) from $380,000 to $480,000.
Photo courtesy of HomeVisit.
This article originally published at https://dc.urbanturf.com/articles/blog/the-10-year-path-of-dc-home-prices-in-four-charts/15700.
Most Popular... This Week • Last 30 Days • Ever
The one-of-a-kind residence was built out of two expansive classrooms, an office, two... read »
One of the critical factors in determining whether refinancing is a wise decision is ... read »
As the redevelopment of the Mazza Gallerie mall in Friendship Heights heads towards c... read »
As we head towards the end of the year, UrbanTurf is wrapping up its coverage of larg... read »
Designed by visionary Travis Price Architects, 3623 R Street NW is a light-filled mas... read »
- 13 Foot Ceilings, 5,800 Square Feet in a Historic Schoolhouse: A Rare DC Loft Hits the Market
- What Is The Best Spread To Refinance Your Mortgage?
- Total Wine Coming To Friendship Heights
- The 6 Large Developments on the Boards From Anacostia to the Bridge District
- A Rare & Striking Modern Home in the Heart of Georgetown Hits the Market
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro