UrbanTurf is taking its annual look at the neighborhood housing markets around the DC region. Today, we head over to Spring Valley.
Spring Valley is tucked away off Massachusetts Avenue near American University and is known for having some of the pricer homes for sale in the District. As the statistics below reveal, not only are homes expensive in Spring Valley, but they are large; the vast majority of listings sold this year had four or more bedrooms. As with many local markets these days, supply is also scant. Last year at this time, there was a four-month inventory of homes for sale. In June, it came in at about six weeks.
- $2.005 million — The average sale price for homes sold in 2020, down about 4 percent compared to last year.
- $2.137 million — The average sale price of homes with 4+ bedrooms.
- 88% — The percentage of homes sold that had 4+ bedrooms.
- 35% — The percentage of homes that sold in ten days or less this year.
- 94.6% — The average sales price to original list price ratio for homes sold in June.
- 1.33 — The months of supply of homes on the market in June.