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Home Price Watch: Low Prices in Woodridge and Langdon

by Shilpi Paul

Home Price Watch: Low Prices in Woodridge and Langdon: Figure 1
Houses in 20018

For the past few months, UrbanTurf has been sifting through DC 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). The full run of zip codes that we have covered are listed below.

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 the neighborhoods of Woodridge, Langdon and Brentwood.

Home Price Watch: Low Prices in Woodridge and Langdon: Figure 2
20018 price trends from 2002 to 2012

Detached homes make up the clear majority of the housing stock in 20018. Langdon and Woodridge homes are largely occupied by long-time residents, though young families are increasingly seeking out the well-sized houses. However, the low turnover may explain the relatively high median days-on-market of 47.

The most notable trend here is the dip in prices in all categories between 2007 and 2012. While prices jumped across the board during the housing boom in 2007, they have since come back down. The healthiest market is for the aforementioned detached homes; in the case of the few condos, 2012 prices are almost as low as those of 2002.

Home Price Watch: Low Prices in Woodridge and Langdon: Figure 3

This article is based on data provided by RealEstate Business Intelligence (RBI), a primary source of real estate data, analytics and business intelligence for real estate professionals with business interests in the Mid-Atlantic region.

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This article originally published at https://dc.urbanturf.com/articles/blog/home_price_watch_low_prices_in_woodridge_and_langdon/6126

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