As Home Sales Drop, Prices Follow Suit in Hillcrest

by UrbanTurf Staff

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With the spring housing sector in comprehensive swing, UrbanTurf is having its annual seem at the neighborhood markets around the DC location. Currently, we head in excess of to Hillcrest. 

The marketplace in the Ward 7 community of Hillcrest has been powerful like numerous other places in DC in excess of the past handful of a long time, but that seems to be altering in 2022. Equally residence rates and residence product sales have fallen notably in the neighborhood this year, as properties are paying far more time on the sector. These dynamics resulted in the stock of houses for sale rising about 30% in April in comparison to very last spring. 

Beneath are some studies that UrbanTurf compiled about the Hillcrest industry.

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• $472,000 — The median house value in 2022, down 15% as opposed to last year. 

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• 25 — The selection of properties offered so much in 2022, a 20% fall in contrast to very same period in 2022. 

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• 25 — The ordinary number of days that properties are investing on the industry in 2022, up 14% compared to past calendar year. 

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• 1.13 — The months of provide of residences for sale in April, up 30% compared to very last April. 

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