Jan 14, 2025 - Real Estate
D.C. neighborhoods that saw the biggest price jumps in 2024
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The Northwest D.C. ZIP code 20012, which includes neighborhoods like Takoma, Shepherd Park and Colonial Village, saw the biggest one-year jump in median home price in 2024, per data from Bright MLS.
Why it matters: Easing mortgage rates in 2024 caused some people to hop off the sidelines and reenter Washington's real estate market — slightly increasing inventory, but also keeping competition and prices high.
The big picture: All of the neighborhoods with the biggest jumps in 2023 were in Northwest. In 2024, a Southwest ZIP code entered the chat:
- 20024, which includes Southwest neighborhoods like the Wharf and Buzzard Point, saw a 14.1% spike.
The other neighborhoods with the top price jumps between 2023 and 2024:
- 20015, which includes Chevy Chase, Barnaby Woods and Friendship Heights, saw a 15.4% spike.
- 20008, which includes Forest Hills, Cleveland Park, Woodley Park and Kalorama, saw a 14.4% spike.
- 20007, which includes Georgetown, Burleith and Berkley, saw a 12.9% spike.