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The Land of the $2 Million Home: A Look at the Spring Valley Market

  • June 4, 2019

by UrbanTurf Staff

A home that sold earlier this year in Spring Valley.

With the spring housing market in full swing, UrbanTurf is taking its annual look at the neighborhood markets around the DC region. Today, we head over to Spring Valley. 

Spring Valley is tucked away off Massachusetts Avenue near American University and is known for having some of the pricer homes for sale in the District. With a median price eclipsing $2 million, this year is no different. As the statistics below reveal, not only are homes expensive in Spring Valley, but they are large; the vast majority of homes sold this year had four or more bedrooms. Lastly, while sales are not usually very brisk in an area with prices this high, more than 40 percent of the homes sold this year did so within ten days of being listed. 

  • $2,049,500 -- The median price for homes sold in 2019, up 32 percent compared to last year.
  • $2,179,667 -- The average list price of homes sold in 2019, up 19 percent compared to last year. 
  • 42% -- The percentage of homes that sold in ten days or less this year. 
  • 92% -- The percentage of homes sold this year that had 4+ bedrooms. 
  • 4 -- The months of supply of homes on the market in the first quarter of 2019. 

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This article originally published at http://dc.urbanturf.com/articles/blog/the-land-of-the-2-million-home-a-look-at-the-spring-valley-market/15482

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