How do you know if a neighborhood is a strong investment, and will it be healthy for years to come?
One must look at the percentage growth over the past few years and the average sales price. Important factors to consider are how the neighborhood has changed and how demand will continue to increase.
Over the past 5 years, both Burleith and Glover Park have had incredible growth in value.
The neighborhoods have changed because of new housing rules regarding student housing. These changes have brought some former group houses to the market that were converted back to single-family homes. Additionally the increased prices in Downtown DC have made Buyers realize what a value play Burleith and Glover Park are in comparison, as both neighborhoods have average sales under $1M. Now those values have each increased to over the $1M mark for the first time in each neighborhood.
There are unique aspects to these areas that are unchanging – namely the nicely sized lots and wonderful location – which make them even more highly desired areas. These houses are walkable to many things, close to Downtown DC, Maryland, Virginia, and these neighborhoods are truly picturesque.
The Kimberly & Daryl Team has represented more of the upper bracket sales than any other real estate team in DC recently. We have more newly constructed homes coming on in the neighborhoods, and we have more Buyers looking to purchase. These homes are smart investments and incredible neighborhoods in which to live.
