Pat Kennedy - Your Washington, DC Real Estate Connection

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Cleveland Park Market Report

Cleveland Park is one of my favorite Washington neighborhoods.  It is incredibly architecturally diverse, in terms of sizes and styles.  There are a couple of tiny little tudors like the one at the right, and a couple of really unusual contemporaries, but mostly big old turn of the century Victorians.  So looking at sales numbers can get interesting.

For example, 2007 is generally thought of as the peak of the market here in Washington.  But in Cleveland Park, that peak happened in 2008, at least looking at the number of sales and the average sales price..  And the 2008 average sales prices were boosted by the sales of more of the larger homes than the smaller ones.  In 2009, the median prices are higher than either year.  But it's taking a lot longer for homes to sell.

Prices in this popular neighborhood start in the high $600's for the smaller homes, most of which are row houses or semi-detached and needing a bit of work.  The larger homes with big porches and quality restorations can go up to, well, just add a zero.

Here are the numbers.

  • Year                                                   2009                   2008                   2007
  • Number Sold                                       29                      37                       31  
  • Average List Price                        $1,376,806           $1,741,445         $1,325,735
  • Average Sold Price                        $1,304,167           $1,642,802         $1,305,095
  • Median List Price                          $1,049,000            $995,000            $985,000
  • Median Sold Price                         $1,030,000            $981,785           $1,004,625
  • Average Days on the Market              88                       35                      31

 

Comment balloon 1 commentPatricia Kennedy • September 27 2009 11:14PM
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