Today, UrbanTurf is taking another look back at the DC housing market in 2023 to see which city neighborhoods had the highest home price appreciation.
In the table below, we outline the eight neighborhoods with the largest increase in home values. In order to qualify for the list, a neighborhood had to record at least 15 sales last year. UrbanTurf used advertised subdivision statistics from Bright MLS to compile the list.
Barry Farm, a neighborhood east of the Anacostia River, led the way with home prices rising by 55%. This increase was the result of prices for condos and townhomes rising notably compared to 2022.
Coming in second was West End, the neighborhood just to the east of Georgetown. A typical condo in West End sold for $1.2 million, helping drive values up in the neighborhood.
Single-family home prices were the primary driver for the strong appreciation in Spring Valley, Woodley Park and North Cleveland Park. At $2.5 million, Spring Valley currently has the highest prices in the city. Wesley Heights is a neighborhood with many large, expensive single-family homes, but also a high volume of condos and co-ops, which bring the median home price for the neighborhood down.
Interested in how much home prices rose in your neighborhood? Just shoot us an email at editor(at)urbanturf.com.
This article originally published at https://dc.urbanturf.com/articles/blog/the_8_dc_neighborhoods_that_saw_home_prices_rise_the_most_in_2023_and_why/21912.
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