As the tide turns a bit in the regional housing market, UrbanTurf is taking a look at zip codes around DC where home prices have dropped this year.
Below are the five zip codes with the greatest year-over-year price depreciation so far in 2022; data was culled from Bright MLS.
The 20037 zip code, which includes Foggy Bottom and West End among other neighborhoods, saw home prices drop the most year-over-year, falling nearly 12.5% to $560,000. Hard to figure out what is driving this drop, as the average price for condos/co-ops, the predominant property type, is actually up year-over-year. Home prices fell 7% in the 20008 zip code, thanks to a drop in condo/co-op prices and the prices for larger townhouses.
20012, where Takoma and Shepherd Park are located, saw prices fall 3% as the result of falling condo/co-op prices as well as the average price for detached homes with three bedrooms. Rounding out the list are the 20017 and 20032 zip codes.
This article originally published at https://dc.urbanturf.com/articles/blog/the-5-dc-zip-codes-where-home-prices-have-dropped-the-most-in-2022/19894.
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