As the dog days of summer arrive, UrbanTurf continues its look at the neighborhood housing markets around the DC region. Today, we head over to a northwest DC neighborhood where not many homes come on the market, but those that do, move very quickly.
Colonial Village is a DC neighborhood that most city residents would be hard pressed to find on a map. It is a small area of about 80 houses located at the northern tip of the DC diamond.
Despite its low-key reputation, Colonial Village is a place that is sought after by homebuyers, at least for the few homes that hit the market there each year. Less than ten homes have sold in Colonial Village thus far in 2022, but those homes have sold in a median of just five days, and for an average of 111% of their original asking price.
Below are some statistics that UrbanTurf compiled about the market in Colonial Village.
- $1.605 million -- The median home price in 2022, up 54% compared to last year at this time.
- 9 -- The number of homes sold in 2022 in Colonial Village.
- 111% -- The average sales price to original list price ratio for homes sold in the neighborhood this year.
- 5 -- The median number of days that homes are spending on the market in 2022.
- How Townhomes Pushed Prices Up 30% in 16th Street Heights
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- Still One of DC's Priciest: The Georgetown Market, By the Numbers
- Low Supply, Big Premiums: The Chevy Chase Housing Market, By the Numbers
This article originally published at https://dc.urbanturf.com/articles/blog/the-dc-neighborhood-where-the-few-homes-that-sell-move-quickly/19834.
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