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Home Price Watch: The High Volume Market of Columbia Heights

  • September 6th 2016

by Nena Perry-Brown

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Home Price Watch: The High Volume Market of Columbia Heights: Figure 1
Inside a Columbia Heights rowhouse.

Early 2016 was a good time to track the recovery of DC-area housing submarkets since the 2008 recession. Now, UrbanTurf has turned our attention to how neighborhood housing markets have performed thus far this year as compared to the same period in 2015.

For this week’s edition of Home Price Watch, we are taking a look at Columbia Heights, where the neighborhood housing market, like Logan Circle, is shifting from trendy to stable.

Despite the volume of units sold in Columbia Heights dropping by 11 percent, it still remains one of the busiest markets in the city with 317 listings sold thus far this year.

Home Price Watch: The High Volume Market of Columbia Heights: Figure 2
 Click to enlarge.

That said, metrics in the neighborhood have started to stabilize and even drop in certain areas of the market. The median sales price fell by 1.74 percent, from $575,000 through July 2015 to $565,000 through July this year. The average list price fell slightly as well, and homes are spending about seven days longer on the market on average.

While areas of the market are plateauing, there are still signs that Columbia Heights remains a hot market. More than half the 317 homes sold this year did so within 10 days — and the sales price to original list price ratio still sits around 100 percent.

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

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This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/the_high_volume_market_in_columbia_heights/11635.

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