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The Takoma Park Housing Market, By the Numbers

  • August 25th 2020

by UrbanTurf Staff

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A home in Takoma Park that sold earlier this year.

UrbanTurf is taking its annual look at the neighborhood housing markets around the DC region. Today, we head over to Takoma Park.

A lack of homes for sale in the Maryland neighborhood just outside DC has resulted in a lower volume of sales in 2020 compared to last year. However, there is a lot of competition for the homes that are on the market (see contract ratio below), and that competition has pushed prices up. 

Below UrbanTurf plucked out several other interesting stats about the Takoma Park market.

  • $519,950 -- The median home price in Takoma Park, an increase of 17% compared to 2019. 
  • 1.27 -- The months of supply of homes for sale in the second quarter of 2020, down 24% compared to last year. 
  • 99 -- The number of homes sold in the neighborhood this year, down 29% compared to last year.
  • 1.26 -- The contract ratio for the neighborhood in the second quarter, up 31% compared to the second quarter of 2019. 

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This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/the-takoma-park-housing-market-by-the-numbers/17233.

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