After breaking records in 2021, the median price for a detached home is up modestly (4%) this year. While most neighborhoods had median prices north of $1 million, that wasn't always the case: Brookland ($970,000), Michigan Park ($807,000), Hillcrest ($595,000) and Deanwood ($505,000) have prices that don't reach that level.
A few weeks ago, UrbanTurf looked at condo and co-op prices around DC. Today, we are examining prices for another property type in the city: detached, single-family homes.
The median price for detached houses is up modestly in the city this year (4%) after breaking records in 2021, but appreciation varies pretty significantly in neighborhoods around DC.
Of the dozen or so neighborhoods that UrbanTurf looked at using Bright MLS data, Shepherd Park (17%), Chevy Chase (17%) and Cleveland Park (14%) saw the highest price appreciation for detached homes this year. While most neighborhoods had median prices north of $1 million, that wasn't always the case: Brookland ($970,000), Michigan Park ($807,000), Hillcrest ($595,000) and Deanwood ($505,000) have prices that don't reach that level.
The majority of neighborhoods above are proof that detached houses are the most in-demand property type in the city. The median days on market metric in the second quarter of 2022 was below 7 days in every neighborhood, except for Deanwood and Hillcrest.
Are you interested in prices for a neighborhood that you don't see above? Shoot us an email at editor(at)urbanturf.com.
Photo courtesy of HomeVisit.