by Ben Puchalski
on Tuesday, February 28th, 2012 at 1:15pm.
The Petworth real estate market is booming and I expect that to continue in 2012. Petworth is one of the few areas in DC that still offers affordable homes. The Petworth neighborhood is metro accessible with easy access to downtown. Young professionals and families are moving to the area because of the convenience and affordable housing prices. I consider Petworth to be Columbia Heights Jr. The rise in prices in Columbia Heightshas been caused by investor activity in the commercial and residential sectors. Columbia Heights has seen massive improvements to its main commercial corridor along 14th St NW. Now Petworth is starting to see a lot of changes to its main commercial corridor (Georgia Ave NW). Petworth has seen the following shops and restaurants open up:
The amount of condominiums, apartment buildings and total renovations of row houses have gone through the roof in Petworth over the last year as well. It is becoming very challenging to find a renovated home listed under $450,000 in the Petworth real estate market. Obviously, the further you move away from the Petworth metro station, the lower the price. The market north of Gallatin St NW (1 mile north of the metro) is not as hot as the blocks south of Gallatin St NW. Prices also tend to not be as high as you go up New Hampshire Ave NW passed Crittenden St NW. In any event, the future remains bright for the Petworth real estate market.