Home Price Watch: A 28 Percent Increase in Woodridge and Langdon

  • Sep 30th 2013

by Shilpi Paul

Home Price Watch: A 28 Percent Increase in Woodridge and Langdon: Figure 1
A home currently on the market in 20018.

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 20018, the zip code roughly bordered by the District’s eastern boundary, New York Avenue NE, and a meandering western border that follows the railroad tracks, Franklin Street NE and 16th Street NE. It’s home to portions of Woodridge, Langdon and Brentwood.

20018 is dominated by detached homes, as we noted last year, and the well-sized suburban-feeling abodes have been increasingly sought after by young families in a city where home prices only seem to get more out of reach. As an area full of family homes, we wondered last year if the relatively high median days-on-market (47) was due to low turnover.

Home Price Watch: A 28 Percent Increase in Woodridge and Langdon: Figure 2

The median sale price has risen substantially in the zip code since last year, from $324,900 to $415,000, a 28 percent increase and approaching 2007’s inflation-adjusted price of $451,134. Properties also came off the market much faster; detached homes found buyers in a median of 18 days, and townhouses went under contract in a median of 24 days. Townhouse and condo prices have also risen slightly since 2012, though they are not yet close to 2007 levels.

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

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This article originally published at https://dc.urbanturf.com/articles/blog/home_price_watch_family_homes_climbing_in_price_in_woodridge_and_langdon/7627.

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