As we near the middle of the year and the winds of the DC-area housing market change, UrbanTurf is taking a look at the DC neighborhoods that have seen the highest home price appreciation so far in 2022.
In the table below, we outline the seven neighborhoods that have seen the largest increase in home values. In order to qualify for the list, a neighborhood had to record at least 10 sales. UrbanTurf used advertised subdivision statistics from Bright MLS to compile the list.
Leading the way is Woodley Park, where home prices are up 90%. While prices have risen in the neighborhood for every property type, the huge increase was due largely to a handful of high-end condos pushing the median up significantly.
Colonial Village, a neighborhood market that we recently analyzed, also saw prices shoot up thanks to increases for 3- and 4-bedroom houses. The appreciation in the Palisades market is also due to home values rising for this property segment.
Condo and co-op prices pushed the median price up in the Southwest Waterfront while in Fort Lincoln, Barry Farm and 16th Street Heights, the price appreciation was the result of townhome prices rising about 30% in each neighborhood.
Photo courtesy of HomeVisit.
This article originally published at https://dc.urbanturf.com/articles/blog/the-7-dc-neighborhoods-that-saw-prices-rise-the-most-this-year-and-why/19843.
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