Taking the plunge into Washington’s real-estate market? Consider these on-the-rise areas where it’s not too late to get a deal.
This Zip code includes Hyattsville’s arts district—with new residences, retail, and restaurants from developer EYA—and the historic district. The result, says Ward, is “that walkable lifestyle and neighborhood feel that I don’t think most buyers picture in the suburbs.” Whole Foods—the ultimate sign that an area has arrived—will land about a mile away in late 2015 as the anchor of a development in nearby Riverdale Park by Calvin Cafritz Enterprises.
Median sold price: $260,000 (up 23.8%).
Average sold price: $265,733 (up 20.4%).
$287,500 buys: A three-bedroom, three-bath Cape Cod in the historic district.
$480,825 buys: A new three-bedroom, four-bath townhouse.
Or try Mount Rainier (20712):
Though closer to the District, this Prince George’s neighborhood is less developed than Hyattsville. “The housing stock is more degraded, but it has lots of Arts and Crafts homes and bungalows,” says agent Kevin Wood of William Sawyer & Co. “And it’s right on the DC border.” In November, Menkiti Group announced plans for a development with Joe Englert as a tenant—he’s the guy whose hip bars helped revitalize Northwest DC’s U Street and Northeast’s H Street.
Median sold price: $260,000 (up 16.9%).
Average sold price: $254,514 (up 8.7%).
$220,000 buys: A two-bedroom, one-bath bungalow that needs work.
$339,900 buys: A renovated five-bedroom, three-bath bungalow.