Inside a two-bedroom home for sale in Trinidad.
It has been eight years since the bottom fell out of the national housing market, and while DC wasn’t affected as adversely as other parts of the country, UrbanTurf is taking a look at select neighborhoods around the city to see how housing prices have fared during that stretch.
We have analyzed Capitol Hill, the zip code that includes neighborhoods like Shaw, Bloomingdale, LeDroit Park and Mount Vernon Square and Chevy Chase DC. This week, we head to Trinidad.
The 60 Percent Increase For Two-Bedrooms
Trinidad is not known for having a lot of two-bedroom condos and rowhouses, but they are available throughout the neighborhood. The median price for a two-bedroom back in the second quarter of 2008 was a mere $195,000; by the first quarter of this year, it had risen to $340,000. Even when accounting for inflation, two-bedroom prices have risen 59 percent over the last eight years.
From $270,000 to $545,000
Three-bedroom rowhouses saw substantial price appreciation in the northeast neighborhood between 2008 and 2016, as the median sales price rose $275,000. Prices actually fell at the end of 2008 and hovered around $200,000 for a couple years before going on a four-year heater starting in early 2012. It might seem hard to believe now, but the median price for a three-bedroom home in Trinidad in 2009 was well below $200,000.
The $236,000 Increase For Four-Bedrooms
Median prices for four-bedroom homes in the neighborhood rose from $380,000 in the second quarter of 2008 to $618,000 in the first quarter of 2016. Even with inflation baked in, that amounts to a 48 percent increase. Prices didn’t take off until the beginning of 2013 when they rose above $450,000 and stayed there before heading above $600,000 in early 2015.
This article originally published at http://dc.urbanturf.com/articles/blog/the_8-year_rise_of_trinidad_home_prices_in_three_charts/11100
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