As we approach the end of the year, UrbanTurf is taking a final look at the DC neighborhoods that have seen the highest home price appreciation in 2022.
In the table below, we outline the nine neighborhoods with the largest increase in home values. In order to qualify for the list, a neighborhood had to record at least 15 sales this year. UrbanTurf used advertised subdivision statistics from Bright MLS to compile the list.
Leading the way is Foxhall, a neighborhood market that UrbanTurf recently analyzed. The median home price in the neighborhood is up 73% in 2022, thanks in large part to almost no homes selling for below $1.4 million and a handful of sales in the $3-$5 million range.
Single-family homes (detached and townhomes) are the primary driver for the strong appreciation in most of the neighborhoods that made the list. In Palisades, Mount Pleasant, Berkley and Colonial Village, home prices were up 25%-36% this year thanks in large part to these property types.
Spring Valley saw its median home price rise by 18% and is one of the areas where median price crossed the $2 million mark. Rounding out the list are Brentwood and the U Street Corridor, where median prices rose about 15%, but stayed in the six-figure range.
Photo Courtesy of Wendell and Anthony
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- The 9 Zip Codes in the Maryland Suburbs With the Highest Home Price Appreciation in 2022
This article originally published at https://dc.urbanturf.com/articles/blog/the_9_dc_neighborhoods_that_saw_home_prices_rise_the_most_in_2022_and_why/20356.
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