At the beginning of 2017, we highlighted 5 DC real estate hotspots to watch. The year has come and gone and here we are, at the beginning of 2018 with an update on what neighborhoods are still hot and which are up and coming…
Two hotspots from last year still make our 2018 list…
This neighborhood has undergone the most change in 2017. Located in the Northeast corridor of Washington, DC, its close proximity to NoMa and H Street has driven up homebuyers desires for the area. There’s an abundance of inventory, row houses, in the Trinidad neighborhood and they’re affordable relative to DC costs.
According to Zillow, this neighborhood was anticipated to be 2017’s fastest growing neighborhood of the year; and it held true. In just the first half of 2017, median home values increased more than 20 percent. This neighborhood is located in the northeast quadrant of DC, has a median home listing price of $267,000 and median sale to list ratio of 97%. The area has a high foreclosure rate of 10.5 homes per 10,000, making it a fertile source of fix and flip properties.
Two new neighborhoods to add to this year’s list include...
Redfin reported in 2017 that Deanwood was one of the hottest neighborhoods in the nation. Its popularity is credited to accessibility to two metro stations, its quick commutes to Capitol Hill and Downtown, a large number of affordable single-family homes in comparison to like-sized homes in other parts of the city, and the expected development and renovations. For house-flippers, this neighborhood has 30 percent of its home selling above the list price and one of the best for first-time home improvement projects.
Unlike the other three, Hillcrest is located in Southeast quadrant of DC. According to an article published by UrbanTurf, “Hillcrest feels a little like an island” in how it’s filled with tree-lined suburban streets and surrounded by strip malls. The housing stock, tudor and colonial style homes with lawns, is diverse and ripe for redevelopment.