Home for sale in 20816
Housing Market Watch is a weekly feature on UrbanTurf in which Keith Gibbons, the brains behind DCHousingPrices.com analyzes recent MRIS statistics for a specific zip code in the DC region to help paint a picture of the housing market in that area.
In Housing Market Watch this week, UrbanTurf looks at the close-in Maryland zip code 20816, which is roughly bordered by the District line, the Potomac River, River Road, and Goldsboro Road.
In June, 29 homes sold in 20816. Here is a chart providing a year-over-year comparison of sales volume, median price and average price:
20816 Market Summary
If there is one area zip code where the year-over-year statistics show the effect of the federal homebuyer credit, it is 20816. In June, aggregate dollar volume of sold homes was down 30 percent versus the same month in 2010, and unit sales were 23.68 percent lower. The average home price fell 8.44 percent, and the median price dropped about 5 percent. Single-family detached homes dominate the market in 20816, and accounted for 79 percent of the properties sold in June. While condo sales prices hovered in the $200,000 to $500,000 range, houses sold for anywhere between $500,000 and $2.5 million.
Median home sales prices in 20816 since July 2010.
There were 57 listings on the market in 20816 in June — 10 condos and 47 houses. All of the condos were priced between $200,000 and $500,000. Of the houses for sale, 7 were priced between $600,000 and $800,000 and the remainder were asking up to $5 million.
20816 is a seller’s market these days, as evidenced by the following stats:
- According to MRIS, properties in the zip code sold for 97 percent of list price in June.
- At June’s sales pace, there’s less than a two-month’s supply of condos and a two-month’s supply of homes on the market.
- The average number of days that a home spent on the market in June was 57, a 20 percent drop from the previous year.
As we said last week about 22207, 20816 is a good area for those who want a detached house, but its high average sales price may be more than many can or are willing to spend. With the low inventory, buyers should be prepared to move quickly if they find a house they like.
Below are charts that provide more detailed statistics of the market in 20816.
Average Sales Price
Unit Sales Volume
- Market Watch: 22207—The Busiest and Healthiest Zip Code in the Region?
- Market Watch: The Condo/Co-op Heavy World of the West End and Foggy Bottom
This article is based on custom data provided to UrbanTurf by MRIS, a developer of real estate technology and information as well as the largest multiple listing service (MLS) in the United States.
This article originally published at http://dc.urbanturf.com/articles/blog/market_watch_20816_a_sellers_market/3991
Most Popular... This Week • Last 30 Days • Ever
How much does a deeded parking spot run you in the District? And what about renting?... read »
For the sixth month in a row, active listings for sale in the DC area increased... read »
Paula Wu manages a real estate and development company between classes, and now... read »
Pending approval by the HPRB, a former firehouse on R Street NW could become four... read »
In Hidden Places, UrbanTurf takes a look at some of the charming but lesser-known... read »
Eataly has signed a letter of intent for somewhere in the vicinity of 30,000 to... read »
Having a very good credit score is crucial if you want to be pre-approved for a home... read »
Small living is about to take on a whole new meaning on one of the city's hippest... read »
In this edition of First Timer Primer, UrbanTurf provides a brief outline of some of... read »
As first-time homebuyers get the itch to look for a home and start to venture out to... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting... read »
President Obama travels to Denver this morning to sign the stimulus bill that has... read »
At Wednesday night's ANC 2F Design Review Committee meeting, developers presented... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question... read »
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!