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The 5 DC Zip Codes Where Home Prices Have Dropped the Most in 2021
While DC's rising home prices have been the story of recent memory, there are some areas of the city where home values have actually dropped this year. Today, UrbanTurf takes a look at the DC zip codes where home prices have fallen the most in 2021.
Below are the five zip codes with the greatest year-over-year price depreciation; data was culled from Bright MLS. In each case, more homes were sold year-to-date this year than last.
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The 20008 zip code, which includes Cleveland Park and Woodley Park among other neighborhoods, saw sales prices drop the most year-over-year, falling nearly 12% to $550,773. While recent price drops in DC neighborhoods are often due to an increase in the share of condos and co-ops sold because these tend to have lower prices, that dynamic is less applicable in this case, as 69% of the units sold this year were condos compared to 66% in 2020. Prices went down across all property types, with 4+ bedroom homes as the lone exception.
The 20036 zip code, a downtown area that includes southern Dupont Circle to K Street where housing stock is predominately condos and co-ops, saw prices drop by 8.7% year-over-year. The 20004 zip code that includes Penn Quarter saw prices drop by more than 4%, as the proportion of condos sold was relatively constant year-over-year (93% vs. 94%).
Rounding out the top five are the zip codes of 20003 (portions of Capitol Hill, H Street, Near Northeast) and 20009 (portions of Logan Circle, Dupont Circle and Columbia Heights) where prices dropped ever so slightly compared to 2020.
See other articles related to: dc home prices, home prices
This article originally published at https://dc.urbanturf.com/articles/blog/the-five-dc-zip-codes-where-home-prices-have-dropped-the-most-in-2021/18582.
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