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Streets of Shaw
Redfin has analyzed which neighborhoods have suffered the largest percentages of price drops in the greater D.C.-area. According to their graphs, that region now includes Baltimore. So congrats neighbor to the north: You’ve officially been engulfed. We’re sharing the Orioles, all those crab houses, and cultural bragging rights to The Wire.
Redfin’s top ten list includes a number of Baltimore area neighborhoods. But a few D.C. neighborhoods also made the list. Those would be: Shaw, Brightwood, an area including parts of Trinidad / Arboretum / Ivy City, and Trinidad. (The only explanation I can think for this: MLS listings data is sort of funky—-boundaries and borders don’t always match up.)
Here’s a rundown of a variety of areas throughout the city, showing which neighborhoods are still suffering from high expectations, and which ones aren’t.
- Cleveland Park /Woodley Park / Embassy Row-35.3% (Percentage of properties with prices drops.*)
- Dupont Circle-39.3%
- Foxhall / Palisades / Spring Valley / Wesley Heights-40.0%
- Foggy Bottom / George Washington University / West End-40.8%
- Chinatown / Mount Vernon Square / Penn Quarters-42.2%
- Brightwood / Manor Park / Takoma-57.8%
- Brightwood Park-62.3%
- Trinidad / Arboretum / Ivy City-68.5%
*Note the numbers don’t reflect the deepness of the price drops, but the percentages of “listings that were price-reduced at some point before leaving the market (either sold or removed unsold from the market) in the past 90 days,” according to Redfin.
- Image by sbma44