Home Price Watch: A 41 Percent Increase in H Street, Capitol Hill and Trinidad

• October 15, 2013

by Shilpi Paul

A home for sale in 20002.

In Home Price Watch, UrbanTurf analyzes the housing markets in various zip codes around the DC area using numbers provided by RealEstate Business Intelligence (RBI).

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.

The zip code covers a fairly diverse area, with a housing stock that includes renovated rowhouses, brand new condos as well as older, less updated homes.

Last year, we noted the extreme jump up in prices in the townhouse category between 2002 and 2012. In ten years, rowhouses in the area just about doubled in price, and sold in a median of 10 days.

This year, prices continued their rise up. Development has continued to spread throughout the area covered by the zip code, and neighborhoods like Trinidad saw housing prices rise dramatically.

While there aren’t too many of them on the market compared to townhouses and condos, detached homes made the biggest jump in price this year, rising from a median sale price of $324,500 in 2012 to $459,000 this year, marking an increase of 41 percent. Townhouses also rose in price, and are now selling for a median of $535,000, compared to $467,000 last year. Condo prices rose just slightly, not quite meeting 2007 highs.

In all three categories, homes sold very quickly, as has been the norm in much of DC this year.

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.

This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_a_41_percent_increase_in_h_street_capitol_hill_and_trinida/7692