Columbia Heights NW witnesses 20%+ increase in 2017 home sales.
Residential properties in Columbia Heights NW, Washington DC, witnessed some of it's highest annual percentage appreciation for the past 12 months. The Average Sold Price for homes in the neighborhood increased by a staggering 21%. The Median Sold Price for December 2017 was $702,500 while total closed sales were up 7% year over year. Days on Market remained extremely low, coming in at only 29 days. This stat falls in line with the 5-year average for the area, which is 27 days. Average Sold Price versus Original List Price was at 99.6%.
While total closed units dropped 5.46%, when compared versus 2016, the trendy neighborhood should experience a fresh set of new residential inventory to hit the market come mid year. Several new boutique condominium projects are currently under construction - including several on Georgia Avenue - with many more in various stages of planning. More than half of the units sold last year were condominiums with the majority priced between $550,000 - $800,000. Over 10% of the homes bought in Columbia Heights were paid for with cash.
Copyright © 2018 MarketStats by ShowingTime. All Rights Reserved. Data Source: MRIS. Statistics calculated January 04, 2018