Home Price Watch: Climbing on Capitol Hill and Hill East
A condo that recently sold on North Carolina Avenue SE.
Last week, UrbanTurf brought back Home Price Watch, a feature where we analyze the housing markets in various zip codes around the DC area.
This week, we are examining the 20003 zip code. Roughly speaking, 20003 is bordered on the north by East Capitol Street, on the west by South Capitol Street, and to the south and east by the Anacostia River. It includes portions of Capitol Hill, Hill East, and the Navy Yard neighborhoods.
When we looked at the zip code last year, we noted the large jump in home prices between 2002 and 2007 and a bit of a leveling off over the last five years. We also noted the tripling in the number of sold condos between 2002 and 2012.
Over the last 12 months, prices for townhouses, the dominant housing type in 20003, have picked back up again. The median price for this property segment has risen from $637,000 to about $712,250 or approximately 12 percent.
Continuing the trend of an increase in condo sales over the years, 87 units have sold so far this year, compared to 73 at this point in 2012. The number of condos sold in 2013 is almost four times as many as 2002.
The final interesting metric from the table above is days on market. As buyers are well aware, homes are currently selling at a rapid pace compared with years past and that is illustrated in the days on market statistics for condos and townhouses in 20003. Townhouses are selling twice as fast this year compared with 2012, while condos are selling more than three times as quickly.
This article is based on data from RealEstate Business Intelligence (RBI), a developer of real estate technology and information in the DC area.
See other articles related to: 20003, capitol hill, dclofts, hill east, home price watch
This article originally published at https://dc.urbanturf.com/articles/blog/home_price_watch_prices_keep_climbing_in_capitol_hill_and_hill_east/7414.
Most Popular... This Week • Last 30 Days • Ever
Back in 2022, the DC Zoning Commission gave the green light to a large mixed-use deve... read »
Opening for sales this spring, The Brownstones at Westbard Square will feature 101 ne... read »
Donohoe presented plans on Thursday evening for a new multi-family residential projec... read »
Even with two large apartment buildings delivering in Northern Virginia's National L... read »
The main story for the DC region's housing market in February was the supply of homes... read »
- Raze Application Looks To Pave Way For 700-Unit Development in Brookland
- Coming Soon: New EYA Brownstones at Westbard Square in Bethesda
- Early Plans Unveiled For 130-Unit Development in Friendship Heights
- 3 Down, 7 To Go: A Look At The Thousands of Units Coming to National Landing
- The Return of Supply And Four Other Interesting Stats From The February Housing Market
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
Unique Spaces
Awesome and unusual real estate from across the DC Metro