Prices going up in the hood... no duh!The Post has been running articles in the Metro section about the
rising property values in the District. Today's Post features our neighbor Bloomingdale with a picture of the Windows Cafe. The basic point is prices are going up, people of modest means cannot afford to buy houses, and those who continue to remain have to deal with the tax bill.
Yesterday's article was on the level of appreciation well over 130%. I tried plugging in my old numbers looking at Old City II's Ward 5 region (ie Truxton
Circle) and this is what I came up with, excluding the $0.00 sales. Warning I am poor at math. Below are the average of the prices various houses sold for in Truxton.
Rowhouse $281K $299K
Conversion $269K $431K
I have no clue what a conversion is, but whatever it is it has gotten expensive.