Home | Newsletter | Advertise

Condos and Co-ops Bolster Cleveland Park Market

  • July 5th 2023

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

condos_along_ct_ave.jpeg
A condo building along Connecticut Avenue.

UrbanTurf continues its annual look at the neighborhood housing markets around the DC region in 2023, as we head over to Cleveland Park. 

An interesting thing is happening the Cleveland Park market this year. Unlike most other areas around the city, home sales in this neighborhood between Connecticut and Wisconsin Avenues have not fallen off that much. Much of the sustained sales pace is due two things: 1) high demand from condo and co-op buyers and 2) an increased supply of homes for sale. The inventory of homes on the market was up 47% in the first quarter of 2023 compared to early 2022. 

Below are some of the more interesting statistics we picked out about the Cleveland Park market. 

  • $487,500 -- The median home price in Cleveland Park, up 21% compared to last year. 
  • 58 -- The number of condos/co-ops that have sold in the neighborhood this year, down just 3% compared to last year.
  • 50% -- The percentage of homes that sold in ten days or less. 
  • 1.77 months -- The supply of homes for sale in May, up 15% compared to May 2022. 

Similar Posts: 

See other articles related to: cleveland park, cleveland park housing market

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/condos_and_co-ops_bolster_cleveland_park_market/21208.

Pipeline: New Condos & Apartments Coming to the DC Area

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse