The 9-Year Trajectory of DC Home Prices in Four Charts
When UrbanTurf launched way back in 2008, it was impossible to know the trajectory that home prices in DC would take over the next 13 years.
As prices in the city hit records last year, 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 since 2011.
In the fourth quarter of 2020, the median price for a home in Washington, DC hit $664,000, the highest level on record for the city on a quarterly basis. The median price represents a 67 percent increase compared to the fourth quarter of 2011 (44 percent when adjusted for inflation), when the median price was just under $400,000.
story continues below
loading...story continues above
The end of 2020 represented a milestone for detached single-family home prices in DC, as the median price crossed the million-dollar threshold for the first time. Coming in at $1,050,000, the median was nearly double that of a single-family home in late 2011, when it was $539,000.
If you owned a DC rowhouse in 2011, it is worth a lot more today. Like detached single-family homes, rowhouse prices have shot up over the last decade. Specifically, values in DC increased 62 percent (39 percent adjusted for inflation) since late 2011, increasing from $386,000 to $625,000.
2020 was a year when condo and co-op prices followed suit with the rest of the property types in the city. In the fourth quarter, prices for this property type hit $505,000, just below the record of $520,000. Compared to the end of 2011 when the median price was $362,000, prices are up 39 percent (20 percent when adjusted for inflation).
Photo courtesy of HomeVisit.
See other articles related to: dc home and condo prices, dc home prices, dc housing market, dc housing market trends, dc housing prices
This article originally published at https://dc.urbanturf.com/articles/blog/the-9-year-trajectory-of-dc-home-prices-in-four-charts/17929.
Most Popular... This Week • Last 30 Days • Ever
Back in 2022, the DC Zoning Commission gave the green light to a large mixed-use deve... read »
Opening for sales this spring, The Brownstones at Westbard Square will feature 101 ne... read »
Donohoe presented plans on Thursday evening for a new multi-family residential projec... read »
Even with two large apartment buildings delivering in Northern Virginia's National L... read »
The main story for the DC region's housing market in February was the supply of homes... read »
- Raze Application Looks To Pave Way For 700-Unit Development in Brookland
- Coming Soon: New EYA Brownstones at Westbard Square in Bethesda
- Early Plans Unveiled For 130-Unit Development in Friendship Heights
- 3 Down, 7 To Go: A Look At The Thousands of Units Coming to National Landing
- The Return of Supply And Four Other Interesting Stats From The February Housing 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