2019 is in the books and it has been another steady year of real estate sales in Glover Park. Continued low interest rates together with strong employment and a continued trend of buyers seeking out walkable and urban lifestyles make the DC market one of the most desirable in the country.
Glover Park has mirrored these city-wide trends with hyper-local factors playing a role as well. Stoddert remains a huge draw for young families. Being nestled between Georgetown University and American University has perennially made Glover Park an attractive place to live for anyone needing easy access to either campus. The long anticipated opening of Trader Joe’s has helped ease the pain of the protracted Whole Foods closure.
Overall the market remains strong but the pace of appreciation appears to be slowing relative to the past 3 years.
A few highlights from the data:
- The average sales price for houses increased $48,000 to $1,048,973
- The average days on market decreased from 20 to 17 compared with 2018
- The average condo price crept up $9,000 from 2018
- The average days on market for condos/coops decreased from 46 (2018) to 30 which is a bright spot in the condo/coop data
What will 2020 Bring for Glover Park?
The decision by DC several years ago to largely allow Additional Dwelling Units (ADUs) by right in most of the city, including Glover Park, means we’ll start see more listings coming on the market with legal 2nd dwelling units (primarily basement units). In presidential election years, we sometimes see the fall market ‘pause’ while the country waits to see how the election will play out. Overall, I expect prices to continue an upward trend but not at the pace we’ve seen in the preceding few years.
Want more information?
Fill out the form below for access to a detailed report breaking down all the sales in Glover Park in 2019 (and, as a bonus, a quick snapshot of anything posted after then as well) together with pictures and more information.
If you are looking for advice on exactly what these numbers mean for the value of your Glover Park property then click HERE to set up a confidential meeting with Anslie to discuss your needs. All data is courtesy of BRIGHT MLS and may not reflect all or actual sales data.