DC home prices up 17%; Columbia Heights pops

For sale sign in front of home.
At the end of last month, there were 2,026 active listings in D.C., 1,659 of which were new listings. (WTOP/Jeff Clabaugh)

The median price of a home that sold in the District in October was $675,000, up 17% from a year ago. And rising prices have not slowed sales, with the total number of sales in D.C. up 16% last month, according to Long & Foster Real Estate.

Columbia Heights and Mount Pleasant saw the largest increase in sales in October, up 71% from a year ago, although that was based on a total of 53 sales in both neighborhoods.

Even so, the median price of a sale in Columbia Heights last month was up 12% to $760,000, making Columbia Heights more expensive than Logan Circle, Dupont Circle, Penn Quarter, Adams Morgan and Foggy Bottom.

The median selling price in Columbia Heights was $130,000, more than it was in Dupont Circle.

As of the end of October, there were 2,026 active listings in the District, 1,659 of which were new listings, indicating the number of listings continues to play catch-up with the number of sales.

“There are a ton of homes going on the market, but not staying on the market long enough to make an impact,” said Long & Foster president Larry “Boomer” Foster. “The demand for homes is still incredibly high, with inventory continuing to dwindle.”

More Real Estate News:

Median selling prices in almost all of D.C.’s neighborhoods were at full list price or more in October.

A snapshot of October prices and sales in the District of Columbia is below.

Chart of home sales data for D.C.
Click on the graphic to enlarge. (Courtesy The Long & Foster Companies)

Editor’s note: This story has been updated to correct the spelling of Logan Circle. 

Jeff Clabaugh

Jeff Clabaugh has spent 20 years covering the Washington region's economy and financial markets for WTOP as part of a partnership with the Washington Business Journal, and officially joined the WTOP newsroom staff in January 2016.

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