Pat Kennedy - Your Washington, DC Real Estate Connection

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Washington, DC's Forest Hills: 2011 Market Report

If you like woods, you'd love Forest Hills.  And if you like to be near great restaurants, book stores and other fun, you'll really like Forest Hills.  It's a neighborhood just north of the Van Ness Metro station east of Connecticut Avenue.

The homes in this neighborhood are quite spectacular.  One even has it's own ballroom!

Here is the basic sales data comparing 2011 with the prior year:ore homes sold in 2010:

 

2010

2011

Number of homes sold

23

30

Highest sold price

$4,000,000

$3,275,000

Lowest sold price

$619,000

$635,000

Median sold price

$1,150,000

$1,087,500

Average sold price

$1,413,891

$1,138,398

Time on the market

110 days

70 days

More homes sold in 2011, and they sold in much less time than in 2010.  But the prices tended to be lower.

The 2010 average may have been skewed a bit by the sale of one very large estate, but the median price also fell by $62,500.

Did your home increase or decrease in value?  Looking at the average and median prices give you an idea of market trends, but they may just mean that fewer very high end homes sold last year.  To get an answer, you really need a market analysis prepared by a real estate professional.

Whatever the numbers are doing, it is a wonderful neighborhood with a great deal to offer.  If prices are down, it is a great opportunity to buy something now that is likely to increase in value as the market begins to recover.

There are eight homes currently on the market, and if you are looking for an upper brackets home, you could find something beautiful that is an excellent value.

If you are planning a move to or from the Washington, DC area, I can help!  I am licensed in the District of Columbia, Maryland and Virginia.  You may call, email or text me at: 

Housepat@mac.com, 202-549-5167

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Comment balloon 8 commentsPatricia Kennedy • January 31 2012 11:55PM

Comments

These numbers evoke Marin County here in CA.  And I know from our own market that the new and increased availability of jumbo loan product is helping some of this inventory move.  I hope you'll see the same there.

Posted by Rob Spinosa, SVP of Mortgage Lending, Marin County (Guaranteed Rate, Marin County, CA) over 8 years ago

Rob, we are seeing some interesting new loian products - the local banks seem to be stepping up to the plate.

Posted by Patricia Kennedy, Home in the Capital (RLAH Real Estate) over 8 years ago

Pat,

With only 2 - 2.5 Forest Hills homes selling each month it's hard to discern real trends.  As you mention, changes may simply be sampling errors.  I didn't realize DC had such pretty homes.

Posted by Lloyd Binen, Silicon Valley Realtor since 1976; 408-373-4411 (Certified Realty Services) over 8 years ago
Forest Hills in our area is one of the upscales neighborhoods but average sales price is only $200,000. Looks like a wonderful placeto live.
Posted by Terry & Bonnie Westbrook, Westbrook Realty - Grand Rapids Forest Hills MI Re (Westbrook Realty Broker-Owner) over 8 years ago

Hi Pat, Good to see the days on market has come down a bit.  May that trend continue.

Gloria

Posted by Gloria Todor, & Doug Durren (484) 431-3686 in SE PA (Weichert Realtors) over 8 years ago

Hi Patricia,

This definitely gives me a feel for what to expect in the Forest Hills section.  The home pictured is gorgeous!!!

Lisa

Posted by The Scott Loper Team Bux-Mont Premier Properties (Keller Williams Real Estate - Montgomeryville) over 8 years ago

I love these big old stately homes. Although, I'm not sure what I'd do with a ballroom. Play ball? lol.  This looks like a gorgeous neighborhood in DC. Nice job bringing us a snapshot look at Forest Hills Patricia.

Posted by Debb Janes EcoBroker and Bernie Stea JD, REALTORS® in Clark County, WA (ViewHomes of Clark County - Nature As Neighbors) over 8 years ago

What a beautiful home that is! It would catch anyone's attention! Great photo, Pat!

Posted by Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional, Palm Harbor, Dunedin, Clearwater, Safety Harbor (Charles Rutenberg Realty) over 8 years ago

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