A February report on the DC-area housing market revealed that the price of a townhome in the DC region rose to its highest level on record last month. In an effort to get a little bit more granular on that milestone, Bright MLS provided UrbanTurf with home price data for townhomes in DC neighborhoods where this is the predominant property type.
By and large, the February price appreciation for townhomes in the neighborhoods above are in line with a region breaking a price record for this property type. Townhome sale prices were up 43% in Columbia Heights compared to last February, 65% in Mount Pleasant and 88% in the H Street Corridor. For the entire 20003 zip code, prices were up 44% compared to a year ago.
As is the case with the region overall, the rising price appreciation is in large part due to lack of supply. There is less than a month's supply of townhomes on the market in DC and the majority of the neighborhoods above.
Photo by Andrew Larsen.
This article originally published at https://dc.urbanturf.com/articles/blog/the-rising-price-of-a-dc-townhouse/19427.
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