2018 is in the books and wow, what a year for American University Park (AUP) real estate sales. AUP continues to strengthen as an in-demand neighborhood pulling trade-up buyers from downtown, Glover Park, Capitol Hill and many other neighborhoods dominated by row houses and condos.
2018 highlights for single family homes:
- The average sales price rose to $1,105,523
- The highest sale in the neighborhood according to BRIGHT MLS sales data was an off market sale on 45th that closed for $1,950,000
- The lowest sale was a 1920s Bungalow on 47th that closed for $753,000
- Of the 90 homes that sold, 50 of them closed at or above $1,000,000.
A few things we’ll be watching closely in 2019 that have the potential to impact the AUP real estate market in 2019:
- Interest rates have remained historically low but any substantial increase will reduce buying power for most would-be purchasers
- Overcrowding at Janney continues to be a challenge
- Overcrowding at Deal Middle School and Wilson High School is projected to get worse over the next decade. DCPS is currently evaluating options to ease the crowding at both schools. Access to both of these highly-rated schools has been a driver of the AUP real estate market, particularly in the past 10 years
If you are considering a purchase or sale in AUP this year then email us right here for a confidential evaluation: Anslie@TheStokesGroup.com. We are happy to discuss the AUP real estate market in more detail along with your needs.