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The Fastest Moving Prices in DC: The Palisades Market, By the Numbers

  • May 18th 2022

by UrbanTurf Staff

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A home in the Palisades

With the spring housing market underway, UrbanTurf is taking its annual look at the neighborhood markets around the DC region. Today, we head to over to Palisades. 

There are two main things happening in the housing market for this upper NW DC neighborhood in 2022: prices have risen the most of any neighborhood in the city and, perhaps consequently, home sales are down about 35% compared to the same period last year. The drop in sales may also be due to a lack of inventory. There is about a 3-week supply of homes for sale on the market currently, down 40% compared to the same time last year. 

Below are some additional statistics we picked out about the Palisades market. 

  • 62% -- The increase in median home price this year, thanks largely to the price of three-bedroom detached houses. 
  • 50% -- The percentage of homes that are selling in ten days of less in 2022. 
  • $1.85 million -- The average sales price for a detached home in the Palisades.
  • 1.80 -- The contract ratio for Palisades in April. 

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This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/the-fastest-moving-prices-in-dc-the-palisades-market-by-the-numbers/19662.

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