Condos drive up home prices in D.C.

Condos and co-ops are driving home price increases in several of D.C.'s hottest markets this year compared to 2022, UrbanTurf reported last month.

Why it matters: Condos aren't normally the primary driver of neighborhood home value appreciation here. Usually, it's single-family homes.

Driving the news: The jump in values in Cathedral Heights, West End, and Foggy Bottom were completely tied to condos and co-ops, reports UrbanTurf, which compiled Bright MLS data.

• The same forces were at play in Observatory Circle, Shaw, and Cleveland Park.

Of course, single-family homes still make up for a lot of price appreciation.

• Case in point: Spring Valley continues to have the highest prices in the city. They're up 12.4% year over year to $2.2 million.