The Mount Pleasant Housing Market Steps on the Gas

• July 5th 2016

by Nena Perry-Brown

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As part of UrbanTurf’s continuing coverage of the path that DC area home prices have taken in various neighborhoods, we have shifted from an eight-year analysis to a year-to-date snapshot. This week’s edition of Home Price Watch will examine how prices in Mount Pleasant have fared this year compared to the first half of 2015.

One of the main takeaways is that homes continue to sell quickly in the northwest DC neighborhood that sits adjacent to Rock Creek Park. Homes are selling 24 percent faster than last year, with 61 percent of homes selling within ten days of being listed.

As homes have sold quicker, list prices have risen. The average listing price for a home in the neighborhood increased from $545,437 in 2015 to $650,475 in 2016, a 19 percent jump. The number of homes sold in Mount Pleasant increased five percent compared to last year, as dollar sales volume shot up 24 percent to just north of $56 million.

All of the statistics above point to the Mount Pleasant market continuing to be competitive, along with a statistic highlighted by UrbanTurf last week: Right now, there is just a one month supply of homes on the market in the neighborhood.

Housing data for the legal subdivision of Mount Pleasant for this article was provided by RealEstate Business Intelligence.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/home_price_watch_25_percent_fewer_days_mt_pleasant/11426.