As the year comes to a close, UrbanTurf is taking its bi-annual look at the neighborhoods across the city that have seen the highest home price appreciation during the year.
In the table below, we outline the seven DC neighborhoods that have seen the largest increase in home values in 2020, a year when home prices hit records across the board in the city. In order to qualify for the list, a neighborhood had to record at least 30 sales this year. UrbanTurf used advertised subdivision statistics from Bright MLS to compile the list.
The two neighborhoods leading the way represent different sides of the city. Wakefield and Barry Farm saw prices rise 68.5 percent and 52.4 percent, respectively, as virtually every property type in both neighborhoods (except larger homes in Barry Farm), saw prices go up year-over-year. The large single-family and condo markets in Woodley Park and Palisades pushed prices up significantly in those areas this year.
For comparison, the table below encompasses the neighborhoods that saw the largest increase in home prices in 2019. Interestingly, none of those neighborhoods made this year's list.
Photo courtesy of HomeVisit.
This article originally published at https://dc.urbanturf.com/articles/blog/the-7-dc-neighborhoods-with-the-highest-home-price-appreciation-in-2020/17595.
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