Home Price Watch: Condo Prices Creeping Up in 20004

by Shilpi Paul

Home Price Watch: Condo Prices Creeping Up in 20004: Figure 1
A condo on the market in 20004.

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 20004, the small, downtown zip code that encompasses much of Penn Quarter. It is roughly bounded by 6th Street NW on the east, G Street NW on the north, 15th Street NW on the west and the National Mall on the south.

The area’s limited residential real estate activity over the last two years exists solely in the realm of condos and co-ops. The number of townhouses and detached homes that have sold in the past decade could be counted on two hands.

Home Price Watch: Condo Prices Creeping Up in 20004: Figure 2

The sale prices for condos an co-ops in 20004 has been creeping up since the housing crash; this year, the median sale price was $444,500, a bit higher than it was last year, but below the inflation-adjusted median price in 2007.

The condo/co-op market was much more active in 2007 than this year, in both number of units sold and price; in 2007, 65 condos sold at a median sale price of $468,654, accounting for inflation. So far this year, only 48 units have sold.

For a look at home prices in other zip codes around the region, see below:

See other articles related to: penn quarter, home price watch, dclofts, 20004

This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_condo_prices_creeping_up_in_20004/7810

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