Home | Newsletter | Advertise
loading...

Home Price Watch: Potential for More in Southwest Waterfront

  • October 1st 2012

by Shilpi Paul

✉️ Want to forward this article? Click here.

Home Price Watch: Potential for More in Southwest Waterfront: Figure 1
A Row House in the Southwest Waterfront

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 are examining the zip code of 20024. 20024 is roughly bordered by the Potomac and Anacostia Rivers, South Capitol Street, and Independence Avenue. It’s home to portions of the Southwest Waterfront neighborhood.

Home Price Watch: Potential for More in Southwest Waterfront: Figure 2

With the future development of The Wharf, Southwest Waterfront will have a slew of new housing options within a few years. However, the market right now is fairly tight for anything other than condos/co-ops, the dominant property type for the zip code. Less than 10 townhomes and detached houses have sold so far this year. The two detached homes that came on the market found buyers almost instantly; for townhomes, the median number of days on the market came in at just 11.

Frankly, this isn’t territory for the single-family home buyer, and as mentioned, condos and co-ops make up the vast majority of housing options. While unit prices are not quite as low as they were a decade ago (but lower than at the 2007 peak), the current median price of $250,000 is likely still affordable to many. Just be wary that the co-ops in the area can have some pretty high monthly maintenance fees.

Home Price Watch: Potential for More in Southwest Waterfront: 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.

Similar Posts:

See other articles related to: 20024, dclofts, home price watch, southwest waterfront

This article originally published at https://dc.urbanturf.com/articles/blog/home_price_watch_potential_for_more_in_southwest_waterfront/6096.

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. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse