Home Price Watch: Rowhouses in the H Street Corridor Double in Price

October 22, 2012
1 Comment

A home for sale in 20002.

For the past few months, UrbanTurf has been sifting through DC housing price data from the last decade to find out exactly what has been happening in zip codes around the city, using numbers provided by RealEstate Business Intelligence (RBI). So far, we have covered almost ten zip codes, which are listed below.

This week we examine 20002, the zip code roughly bordered by North Capitol Street to the west, Franklin Street and New York Avenue NE to the north, the Anacostia River to the east and East Capitol Street to the south. Portions of a variety of neighborhoods are encompassed within those borders including Capitol Hill, Edgewood, Eckington, Trinidad, NoMa and the H Street Corridor.

UrbanTurf would love to get housing market data on a granular neighborhood level, but it’s difficult to obtain information which doesn’t align exactly with a zip code. And, given the variety of neighborhoods that 20002 covers, this would be the zip code to have information on a neighborhood level.

20002 encompasses areas like Kingman Park and Trinidad, where prices are still quite low (by DC standards), as well as Capitol Hill and the H Street Corridor, neighborhoods that bring the home price numbers up significantly in a couple different categories.

The big takeaway from the data above is that townhouses and row houses have just about doubled in price in the last decade, while condo sale prices have risen almost 30 percent, accounting for inflation. On average, row houses stay on the market for just over 10 days in 2012, an impressive metric given that 413 have sold so far this year.

While condo prices have risen compared to 2002, the property type is not nearly as popular as it was in five years ago. In 2007, a whopping 176 units had sold by this point in the year, and the median days on market sat at 32. This year, 116 condos have sold, but it is taking quite a bit longer for those units to sell (45).

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:

This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_rowhouses_in_the_h_street_corridor_double_in_price/6188

1 Comment

KP Resident said at 1:00 pm on Sunday December 2, 2012:
We bought our home in Kingman Park in 2010, and in only two years, have seen the prices of homes rise considerably. Investors are buying up and flipping tons of homes in our neighborhood. Only two and a half years later, I see fixer uppers selling for 100k higher than our purchase price of our own fixer upper. I also see newly renovated homes selling for at least 30-40k higher than they did two years ago (they were going in the high 300’s in 2010, and now are selling in the low 400’s). I haven’t watched as closely what is happening in the Rosedale neighborhood, but I imagine it is similar.