Home Price Watch: Peaking in 2007 in 16th Street Heights

by Shilpi Paul

image
Petworth condo building

Over the past several months, UrbanTurf has been analyzing the home price data for a number of zip codes around the region. A full rundown of those that we have covered is listed below.

This week, we examine 20011, a zip code that encompasses portions of Crestwood, Petworth, Brightwood and 16th Street Heights. It is roughly bounded by the District border on the east, Quincy Street NW on the south, Rock Creek Park on the west and Tuckerman Street NW on the north.

image

In every property category that we examined — condos, townhouses and detached homes — median prices approximately doubled between 2002 and 2007. Townhouses went from a median sale price of $183,000 to $395,300, detached homes from $310,000 to $679,000. By 2012, prices had dropped in every category.

Another notable trend is the more than fivefold increase in the number of condos sold between 2002 and 2012. Ten years ago, only 18 condos sold in 20011. In 2012, 104 sold over the course of the year. The complete transformation of the condo market is also seen in the prices: in 2002, the few condos available sold at a median price of $50,000, which seems staggering low now. Last year, the median was $206,250.

image

This article is based on data provided by RealEstate Business Intelligence (RBI), a primary source of real estate data, analytics and business intelligence for real estate professionals with business interests in the Mid-Atlantic region.

Similar Posts:

See other articles related to: petworth, home price watch, brightwood, 20011, 16th street heights

This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_peaking_in_2007_in_16th_street_heights/6574

4 Comments

  1. James said at 9:08 pm on Monday January 28, 2013:

    The median number of days for homes on the market in 2002 was really 0? I know it was a hot market then, but that doesn’t seem quite right. Would be interested to see the data between 2007 and now too. Are prices trending down, trending back up or stagnant?

  1. Shilpi said at 9:43 pm on Monday January 28, 2013:

    James,

    Thanks for the comment. You are right—that was a typo. It was actually 13. We are correcting the chart.

    Shilpi

  1. Petworth Res said at 11:18 am on Tuesday January 29, 2013:

    I’m pretty sure this area is not bounded by “the District border on the east”. Maybe North Capitol?

  1. SL said at 2:16 pm on Tuesday January 29, 2013:

    This zip code encompasses a huge range of home sizes, prices and home styles. I think you would find that many of the closer-to-metro sections of this zipcode have shown increasing prices over time. I also think homes in good conditions show increasing prices as well. I bought in Petworth in 2005 and noticed then that houses that were basically shells were listed/sold in the low 300s, and the most expensive homes were about $500K. Today shells will sell for as low as the 100s, whereas totally renovated Petworth homes are selling for 600-650K. There are a huge number of fixer uppers being bought and flipped by developers.

Join the discussion



* required fields

Andy & Sue Hill

McEnearney Associates

301-646-3900

Serving:

Friendship Heights

Bethesda

Chevy Chase

NEW!

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We’ve collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!

Northern Virginia

Profiles of 14 neighborhoods across Northern Virginia

Ballston
Looking to Give People A Reason to Stay Past 6pm
Clarendon
Happily Straddling the Line Between City and Suburb
Columbia Pike
Arlington’s Neglected Stepchild is Getting a Makeover
Crystal City
Turning Lemons into Lemonade
Lyon Village
Developing An Air of Exclusivity?
Rosslyn
Hitting Its Growth Spurt
Shirlington
An Urban Village Hitting Its Stride
Del Ray
Virginia’s Small Town Near the Big City
Eisenhower Avenue
The Vibrancy Might Take a Few Years
Huntington
The Quiet Neighborhood By the Beltway
Old Town
Mayberry By The Potomac
Parkfairfax
132 Commerical-Free Acres
Downtown Falls Church
Staying the Same in the Midst of Change
Tysons Corner
Radical Change Could Be On The Way

See more Northern Virginia »

Maryland

Profiles of 14 neighborhoods in suburban Maryland

Annapolis
Small-Town Living in the State Capital
Bethesda
Bedroom Community Gets Buzzing Cache
Cabin John
In With The New While Maintaining the Old
Chevy Chase
Affluence, Green Lawns and Pricey Homes
Downtown Silver Spring
Experiencing a Resurgence After a Bumpy History
Potomac
A Suburb on Steroids
Rockville Town Square
Despite the Dynamism, Still Somewhat Generic
Takoma Park
More Than a Little Bit Quirky
Wheaton
A Foodie Magnet on the Verge of Change
Capitol Heights
Kudzu, Front Porches and Crime
Hyattsville
Glass Half Full or Half Empty?
Mount Rainier
Artists, Affordable Homes and A Silo Full of Corn
National Harbor
A Development Rises Next to the Potomac
Riverdale Park
A Town Looking For Its Identity

See more Maryland »

Northwest DC

30+ neighborhood profiles for the city's biggest quadrant

16th Street Heights
DC's Sleeper Neighborhood
Bloomingdale
Where (Almost) Everyone Knows Your Name
AU Park
One of DC’s Last Frontiers Before the Suburbs
Brightwood
DC’s Northern Neighborhood on the Cusp
Burleith
DC’s 535 House Neighborhood
Cathedral Heights
Do You Know Where That Is?
Chevy Chase DC
Not to Be Confused With the Other Chevy Chase
Cleveland Park
Coming Back After A Rough Year
Columbia Heights
DC’s Most Diverse Neighborhood, But For How Long?
Crestwood
An Island of Serenity East of the Park
Dupont Circle
The Best of DC (For a Price)
Foggy Bottom & West End
Where the Institutional Meets the International
Forest Hills
Ambassadors and Adventurous Architecture
Fort Totten
Five Years Could Make a Big Difference
Foxhall Village
350 Homes Just West of Georgetown
Friendship Heights
A Shopping Mecca With a Few Places to Live
Georgetown
History, Hoyas and H&M
Glover Park
One of DC’s Preppier and More Family-Friendly Neighborhoods
Kalorama
A Posh View From Embassy Row
LeDroit Park
A Quiet Enclave in the Middle of the City
Logan Circle
Trendy Now, But Not By Accident
Mount Pleasant
Sought-After Homes Surround Main Street in Transition
Mount Vernon Triangle
From Seedy to Sought-After
Palisades
The Long, Skinny Neighborhood at the City’s Northwest Edge
Park View
It’s Not Petworth
Penn Quarter/Chinatown
DC’s Go-Go-Go Neighborhood
Petworth
Getting a Vibrancy of Its Own
Shaw
The Duke’s Former Stomping Ground
Shepherd Park
DC’s Garden of Diversity
Spring Valley
A Suburb With a DC Zip Code
Takoma
Not To Be Confused With Takoma Park
Tenleytown
Not Quite Like Its Neighbors
U Street Corridor
The Difference a Decade Makes
Woodley Park
Deceptively Residential
Adams Morgan
No Longer DC’s Hippest Neighborhood, But Still Loved by Residents

See more Northwest DC »

Southwest DC

The little quadrant that could

Southwest Waterfront
A Neighborhood Where A Change Is Gonna Come

See more Southwest DC »

Northeast DC

Profiles of 10 neighborhoods in NE

Brookland
New Development Could Shake Up Pastoral Peace
Deanwood
A Little Bit of Country Just Inside the District’s Borders
Eckington
Not to Be Confused With Bloomingdale
H Street
A Place To Party, and To Settle Down
Langdon
The Northeast Neighborhood That Few Know About
Michigan Park
A Newsletter-On-Your-Doorstep Community
NoMa
Evolving from a Brand to a Neighborhood
Rosedale
Ripe for Investment Right About Now
Trinidad
The Difference 5 Years Makes
Woodridge
Big Houses, A Dusty Commercial Strip and Potential

See more Northeast DC »

Southeast DC

6 'hoods from Capitol Hill to East of the River

Capitol Riverfront
Still Growing
Hill East
Capitol Hill’s Lesser Known Neighbor
Congress Heights
Gradually Rising
Hillcrest
Notable for Its Neighborliness
Historic Anacostia
Future Promise Breeds Cautious Optimism
Eastern Market
A More European Way of Living

See more Southeast DC »