Tuesday, September 13, 2016

Urban Turf DC: "Home Sales Increase 50 Percent in Bloomingdale as Supply Dives"

Click on the link to read the entire Urban Turf DC post.

Home Sales Increase 50 Percent in Bloomingdale as Supply Dives
While UrbanTurf spent the early part of 2016 reviewing how DC area housing markets have recovered since the 2008 recession, we are now looking at how various neighborhoods are performing thus far this year as compared to the first half of 2015.

For this week’s edition of Home Price Watch, we are taking a look at Bloomingdale, where sales volume increased markedly in 2016 as supply and prices have dropped.
Fifty percent more listings sold in Bloomingdale so far this year compared to the same period in 2015, increasing the sold dollar volume by 67.45 percent. However, the median sales price is down five percent this year, from $723,496 to $687,000, perhaps the result of not being able to keep up with listing prices, which have risen 18.5 percent.

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