Today, UrbanTurf is taking a look at the DC neighborhoods that have seen the highest home price appreciation so far in 2022. Tomorrow, we will take a look what home prices may do in the coming months across the region.
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 this year. UrbanTurf used advertised subdivision statistics from Bright MLS to compile the list.
Leading the way is Colonial Village, a neighborhood market that we looked at earlier this year. The large increase in prices is largely due to the increase in value of detached homes with 4+ bedrooms.
Single-family detached home prices are really driving the strong appreciation in most neighborhoods that made the list. In Berkley and Palisades, 4+ bedroom prices are up notably, and in Takoma and Woodley Park, three-bedroom houses lead the way in terms of appreciation.
In Mount Pleasant, condos and co-ops are actually pushing prices north. Prices for this property segment are up 18% in 2022, one of the highest appreciation amounts for condos for any neighborhood in the city.
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/20144.
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