Written by:Â Mark Rutstein
Wondering what are the hottest DC real estate neighborhoods? Go no further then Petworth and Shepherd Park where those neighborhoods saw the biggest year-over-year gain in housing prices last month. The average selling price of a house or a condo is up 42 percent from last year.
The Washington Business JournalÂ reportedÂ â€the median sale price in Petworth last month was $499,900. The number of active listings in the Petworth area is down 38 percent from a year ago, and sellers last month got an average of 100.7 percent of asking price.
Chevy Chase, D.C., faired best for sellers in May, with the average contract price 103.2 percent of list price. Chevy Chase also had the highest median sales price in the District last month, at $855,000.â€
The Dupont and Logan Circle neighborhoods are still the fastest selling with houses and condos only on the market for an average of 14 days. Â The Â median selling price last month in the District was up to $489,000, a 9% increase from last year.
If you are looking to buy or sell real estate in Washington, DC contact me today!
â€“Mark Rutstein | DC Real Estate Agentâ€“
Follow our blog atÂ www.iknowdc.com