#WashingtonDC #RealEstate 2016 #JPLogan

On the whole, the average sales price — the average price at which a property sells — of all homes of any type in Washington are up 1.44 percent year to date in 2016 — $646,640 this year compared to $637,452 last year. This is certainly well above the median sales price of a home nationally, which hovers just below $250,000.

[Median price of a home in D.C. region soars to record high]

In particular, the highest average sales prices year to date in the District are in Zip codes 20007, primarily for Georgetown and Burleith ($1,067,347); 20016 for Cathedral Heights and American University Park ($1,042,904); and 20015 for the area around Friendship Heights and Chevy Chase ($1,017,269).

However, the biggest gainers in average sales price are a mixture of high-priced neighborhoods with developing areas outside the city center. The largest gainer in average sales price through the end of June was American University Park and Cathedral Heights, rising 19.9 percent to $1,042,904 in 2016 from $870,046 in 2015.

Notable growth also occurred in the far reaches of Southeast and Northeast Washington. The second- and third-biggest gainers in average sales price so far in 2016 have been seen around Zip codes 20020 for Anacostia and Hillcrest (up 17.7 percent to $292,159) as well as in 20019 for Deanwood and Benning Heights (up 17.3 percent to $256,417).

Median days on market

Unlike other leading indicators, median days on the market — the number of days it takes a property to go from active on the market to under contract — is measured in how it shrinks not grows. A low number of days on market often corresponds to a higher sales price and vice versa. For the District, the average days on market as a whole are 39 days for 2016, down one day from 2015.

Read more from the Washington Post

%d bloggers like this: