Home Price Watch: Growing Condo Market and Rising Prices in Takoma Park

Home on Houston Avenue. Amanda Abrams.
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 20912, the Maryland zip code which is made up almost entirely of the neighborhood of Takoma Park. It is bounded by the District border to the east and roughly by University Boulevard on the west, with jagged, irregular boundaries to the north and south.
20912’s housing market is dominated by detached homes. From Victorians to Craftsman bungalows to Cape Cods, Takoma Park’s leafy streets are ripe with family-sized houses.
Last year, we noted the strength of the detached home market, whose median sale price had risen from $285,000 to $410,000 in one decade. We also noted the sizable jump in the number of condos, from 12 selling in 2002 to 47 selling during the same time period in 2012.

This year, prices in the detached home arena continued their upward trajectory. Though they didn’t quite meet the highs of 2007, the median sale price rose to $447,000. Likewise, the number of condos continues to grow; so far this year, 60 condos have sold in the area.
See other articles related to: home price watch, takoma park
This article originally published at https://dc.urbanturf.com/articles/blog/home_price_watch_growing_condo_market_and_rising_prices_in_takoma_park/7775.
Most Popular... This Week • Last 30 Days • Ever

Why condo fees are high in some buildings and low in others can be a difficult questi... read »

When sellers haven't quite lined up their next house before their settlement date com... read »

In this edition of First-Timer Primer, we look into the question of how to determine ... read »

The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »

Here's what you need to know about reporting profit made from the sale of your home.... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro