Inside a Columbia Heights rowhouse.
Early 2016 was a good time to track the recovery of DC-area housing submarkets since the 2008 recession. Now, UrbanTurf has turned our attention to how neighborhood housing markets have performed thus far this year as compared to the same period in 2015.
For this week’s edition of Home Price Watch, we are taking a look at Columbia Heights, where the neighborhood housing market, like Logan Circle, is shifting from trendy to stable.
Despite the volume of units sold in Columbia Heights dropping by 11 percent, it still remains one of the busiest markets in the city with 317 listings sold thus far this year.
That said, metrics in the neighborhood have started to stabilize and even drop in certain areas of the market. The median sales price fell by 1.74 percent, from $575,000 through July 2015 to $565,000 through July this year. The average list price fell slightly as well, and homes are spending about seven days longer on the market on average.
While areas of the market are plateauing, there are still signs that Columbia Heights remains a hot market. More than half the 317 homes sold this year did so within 10 days — and the sales price to original list price ratio still sits around 100 percent.
Housing data for the legal subdivision of Columbia Heights for this article was provided by RealEstate Business Intelligence.
- Logan Circle Market on Cruise Control as Median Prices Approach $700,000
- Higher Prices, More Competition: The True Heat of the Anacostia Housing Market
- Home Price Watch: A 10 Percent Increase in 16th Street Heights
- Home Price Watch: Prices Rise 21 Percent in Deanwood
- Georgetown Home Buyers Still Cash-Rich and Quick to Commit
- Home Price Watch: Homes Selling Fast in Eckington as Supply Increases
- The Mount Pleasant Housing Market Steps on the Gas
- Home Price Watch: Takoma Park Prices Rise 20 Percent
- Home Price Watch: The Fast-Moving Market in Petworth
This article originally published at http://dc.urbanturf.com/articles/blog/the_high_volume_market_in_columbia_heights/11635
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