Home Price Watch: Posh Houses and Affordable Condos in 20008

  • September 24th 2012

by Shilpi Paul

Home Price Watch: Posh Houses and Affordable Condos in 20008: Figure 1
A home in Forest Hills

Last 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). The full run of zip codes that we have covered are listed below.

This week, we are examining the zip code of 20008. Roughly speaking, the zip code encompasses the neighborhoods surrounding Connecticut Avenue between Columbia Road NW and Nebraska Avenue NW, including portions of the Forest Hills, Van Ness, Cleveland Park, Woodley Park, and Kalorama. As Keith Gibbons pointed out last year, since it includes a sliver of the Naval Observatory, Vice President Biden calls 20008 his “home away from Delaware.”

Home Price Watch: Posh Houses and Affordable Condos in 20008: Figure 2

Next to Georgetown, 20008 is home to some of the city’s toniest housing stock, from Kalorama’s stately Beaux Arts mansions to the modern gems of Forest Hills. The median price of the detached houses in the zip code, $1,290,000, reveals the posh nature and prohibitively expensive prices for the area.

However, if you are looking for something smaller, the condo prices are more reasonable; reaching a peak of $390,000 in 2007, median prices for condos sold in the zip code so far this year hover around $376,000.

The last interesting takeaway from the data in the tables above relates to the median days on market for townhouses in 20008. In each of the years analyzed over the last decade, that days on market statistic never exceeded 12 days, and in 2007 it went down to just six days. That meant that if you listed a townhouse five years ago, there was a good chance you had a buyer within a week, and these days, you are likely to find an interested party in less than two.

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 https://dc.urbanturf.com/articles/blog/home_price_watch_posh_houses_and_affordable_condos_in_20008/6063.

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