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

• September 30, 2013
• 2 Comments

by Shilpi Paul

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.

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.

Similar Posts:

• Home Price Watch: Steady in Southwest Waterfront
• Home Price Watch: Townhouse Prices Increase By 35 Percent in 20008
• Home Price Watch: 20007—DC’s Toniest Zip Code
• Home Price Watch: Townhomes Break $1 Million in 20009
• Home Price Watch: Rising 15 Percent a Year in Bloomingdale and LeDroit
• Home Price Watch: Climbing on Capitol Hill and Hill East

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

2 Comments

1. Wolf#6 said at 8:42 pm on Monday September 30, 2013:
   Took me and my wife a year, but we were able to land a property in Landgon/Woodride and build ridiculous appreciation and rental income at the same time. We purchased the property for under $300K; invested about $110K in renovations using a 203K loan; went through DC's rigamorole of getting a zoning exception and COD to rent out our basement for $1100; a year later when the tenant left the area, we decided to move in the basement. We did and it changed our financial lives forever. The main unit, which is 2200 sqf and 5 bedrooms, rents for $3100 and our mortgage is $2200. After the first year, we collected $37200 in rent. Further, we refinanced out of the 203K and the house appraised for $570K giving us $181K in equity. Tenant never missed a payment, so, and they don't know this yet, I'm actually going to lower the rent by $100 a month. I hear so many negative comments about buying in DC and "playing the game" in DC on this site that I just wanted to share a good experience. Not the best, but a good one nonetheless. Life is good.

1. h st ll said at 1:49 pm on Wednesday October 2, 2013:
   @Wolf - nice! I love hearing of people becoming financially independent.