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Anacostia Home Prices Jump 35%

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Anacostia Home Prices Jump 35%

The median sales price for homes in Anacostia has risen 35% over the first eight months of 2015. Median prices in the neighborhood just east of the Anacostia River have increased to $257k this year, up from $189.9k in 2014. However, sales volume has dropped off in the neighborhood with 24 home sales so far this year compared to 36 in 2014. Additionally, the majority of sales last year were to all-cash buyers while only seven such transactions have taken place this year. Homes in Anacostia are selling at a faster clip, averaging 24 days on the market versus 52 days in 2014. Over half of the homes sold in the neighborhood had been on the market for less than 20 days. [UT]