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Home Price Watch: Flying Off the Market in 20009

  • September 5, 2012

by Shilpi Paul

Home Price Watch: Flying Off the Market in 20009: Figure 1
Homes in 20009.

Earlier this month, UrbanTurf began sifting through housing price data from the last decade to find out exactly what has been happening in zip codes around the city, using numbers provided by RealEstate Business Intelligence (RBI).

We started by looking at 20001, a transforming zip code (Bloomingdale, LeDroit Park and Shaw) that saw home prices double over the previous decade and a tenfold increase in the number of condos on the market. Then we took a look at 20015, the relatively stable area that covers Chevy Chase DC. Most recently, we looked at 20003, which covers Capitol Hill and Hill East. (While we’d love to get housing market data on a granular neighborhood level, it’s hard to get information like that which doesn’t align exactly with a zip code.)

This week, we are examining the zip code of 20009. Roughly speaking, 20009 is bordered to the north by Irving Street, to the west by Connecticut Avenue, to the east by 11th Street and to the south by Q Street NW. Portions of Dupont Circle (excluding the circle itself), Columbia Heights, Logan Circle, the U Street Corridor and Adams Morgan are encompassed within those borders.

Home Price Watch: Flying Off the Market in 20009: Figure 2

Like several of the zip codes we’ve looked at, prices rose significantly in all property categories between 2002 and 2007, corresponding with the housing boom, but now hover at or slightly below their 2007 levels. The data also shows that 20009 is one of the most condo-heavy markets in the city over the three years analyzed, and that will only continue as new projects deliver in the coming years.

Another interesting takeaway is the consistently low median number of days on the market for all property types during the last decade. With the popularity of the zip code’s neighborhoods and the booming development of the 14th Street Corridor, it’s no surprise that homes in all categories are finding buyers in less than 20 days.

This article is based on custom data provided to UrbanTurf by RealEstate Business Intelligence (RBI), a developer of real estate technology and information in the DC area.

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This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_flying_off_the_market_on_the_14th_street_corridor/5980

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