The first half of the 2018 real estate market is in the books and AU Park continues to see demand far outpacing supply which is leading to higher prices across the board.

AU Park is an in-demand neighborhood pulling trade-up buyers from downtown, Glover Park, Capitol Hill and many other neighborhoods with smaller homes and lots. Janney Elementary School is a major factor for buyers in the neighborhood along with quick commuting times downtown, access to metro, Turtle Park and the shops and restaurants along Wisconsin Avenue.

First half 2018 highlights for AU Park single family homes:

• The highest sale in the neighborhood according to MRIS sales data was 4220 45th ST NW, just one block from Turtle Park. It was renovated in 2013. It sold off the MLS for $1,950,000
• 5 sales have topped $1,500,000 so far this year
• The lowest sale was a sweet Cape Cod on Western AVE that listed for $795,000 and closed for $772,000
• Of the 48 homes that sold, 38 sold in 14 days or less

We have been closely watching to see if the  late 2017 Tax Cuts and Jobs Act, which reduced the amount of mortgage interest and State and Local taxes (SALT) that can be deducted, hampered demand but we can find no evidence that suggests it slowed the market down at all. We continue to keep a close eye on interest rates as any substantial increase will reduce buying power for most would-be purchasers.

The DC Council recently voted to exempt single family homes from TOPA legislation which could lead to some longtime investors putting their properties on the market.

If you are considering a purchase or sale in AU Park in the latter half of 2018 then email us right here for a confidential evaluation: anslie@TheStokesGroup.com. We are happy to discuss the AU Park real estate market in more detail along with your needs.

**all information from MRIS. Deemed reliable but not guaranteed. This is not intended to solicit other broker’s listings.