A home that sold in Forest Hills earlier this year
As the close of 2017 draws near, UrbanTurf is taking an updated look at the neighborhoods across the city that have experienced the highest price appreciation this year.
The below table highlights the ten neighborhoods in the city that saw the largest increase in home values thus far in 2017. Only neighborhoods that recorded at least 20 sales this year were eligible for inclusion, which disqualified Marshall Heights from the running after the neighborhood had the highest home price appreciation between 2015 and 2016. Data was culled from RealEstate Business Intelligence’s legal subdivision statistics.
The two neighborhoods leading the way are on opposite ends of the city. The median sales price in Congress Heights was 36.3 higher in 2017 than it was in 2016, while just north of Georgetown, median prices in Glover Park weren’t far behind, increasing by nearly 36 percent over the past year. Crestwood and LeDroit Park continued their upward home price trajectory to merit inclusion in the top five, with Randle Heights in Ward 7 sat between them. For all of DC proper, median prices have risen just about 1 percent this year.
The neighborhood that saw the largest home value increase from a total dollar standpoint was Crestwood, where median prices jumped approximately $270,000 to $1.157 million. Median prices in Palisades, Capitol Hill and LeDroit Park jumped more than $100,000.
As a comparison, here are the neighborhoods with the highest price appreciation between 2015 and 2016:
This article originally published at http://dc.urbanturf.com/articles/blog/the_dc_neighborhoods_with_the_greatest_price_appreciation_in_2017/13228
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