Northwest Washington, DC, is a vast area that includes a few very distinct neighborhoods including trendy Georgetown and Dupont Circle, up and coming Adams Morgan and Columbia Heights, and quieter, more suburban areas like upper Northwest.
Although downtown – defined as the area east of 15th street and west of Union Station, squeezed between Pennsylvania and Massachusetts avenues – is part of Northwest, geographically, it is considered a separate housing market. Northwest is an affluent area home to movers and shakers, ambitious young professionals, some college students, and a number of retirees.
In chic and beautiful Dupont Circle, for instance, the median home value is about $823,000. Housing in this densely urban neighborhood is comprised mostly of apartment complexes and small buildings, as well as many row houses and attached homes. A modest one-bedroom unit along Connecticut Avenue or 18th Street, NW, easily sells for about $250,000. Renovated, fully-equipped two-bedroom properties easy sell for over half a million dollars.
These prices hold up for Adams Morgan and surrounding areas. While Dupont has more families, Adams Morgan is home to mostly younger, single residents who typically rent rather than own.
There are various community parks here, and the vast Rock Creek Park and national zoo are just around the corner. Boutiques, specialty shops, galleries, and spas can be found along Connecticut Avenue, 18th and 17th Streets, and the U Street-Cardozo corridor.
Historic, charming Georgetown offers even pricier homes, with an average sale price of $951,000. Most properties here sell in the price range of $650,000 to $1.3 million. Many older, well established and historic homes – many large, and for sale of upwards of $1 million – can be found in Georgetown. A few old cobble stone streets remain, and the shopping and dinning strips of Wisconsin Avenue and M Street, NW, make this neighborhood a favorite among young single professionals and families with children alike. Georgetown also has some of the best schools in DC, as well as beautiful parks and gardens like Dumbarton Oaks.
One up and coming neighborhood at the moment is Columbia Heights. Once mostly home to public housing projects, the area has been privatized and revitalized. Many new businesses have come in, and new condos are rising up. The average property here sells for an affordable $200,000, which typically buys an attractive, older row home that needs renovation. This neighborhood is particularly popular among young urban professionals, although some older families reside here as well.
Northwest real estate also offers larger properties in quieter units, further away from downtown. Upper Northwest, which includes areas like Tenleytown and upper Georgetown towards the Maryland border, offers mostly older, large, well-kept single-family homes with yards or gardens. The median home sale price for these areas is about $650,000, although small apartment units can be found for a third of that price.
Overall, DC has ranked as the best urban real estate market in the world for three consecutive years now. A construction boom that began here in the mid-1990s is still going, even as the national economy slowed down, as did new construction nationwide. The federal government is the main employer here, and it has created many new jobs in recent years, attracting a growing number of residents to the nation's capital.
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