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[quote=Anonymous]My primary worry is how rapidly prices have escalated over the last year relative to other areas of the city, even trendy areas like the H Street Corridor, Trinidad, Riggs Park etc have not seen price escalations so rapid. I've recently looked at the few renovated homes that are in my target EOTR neighborhoods and prices are $50k-$100k higher than where they were early last year, or even as late as September of last year. In Congress Heights near Malcolm X Ave, there are a cluster of renovated homes that are listed for at or slightly above $400k, these homes would have sold for $330,000-$365,000 last year.

I'm wondering if prices have escalated so quickly due to demand, or due to the lack of renovated homes on the market. There seems to have been tons of renovations that sold in early-2017 and September-November 2017. But now, there are minimal renovated homes on the market.

Should I wait it out for more renovations to hit the market, or purchase from what's available now?

I'm also open to buying something that needs some work.[/quote]

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