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Home Price Watch: Gone in a Week in 20010

by Shilpi Paul

Home Price Watch: Gone in a Week in 20010: Figure 1
A home in 20010

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 20010, which encompasses portions of Mount Pleasant, Columbia Heights, Pleasant Plains and Park View. A west to east-stretching zip code from Rock Creek Park to North Capitol Street NW, 20010 is roughly bordered on the north by Piney Branch Parkway/Quincy Street/Rock Creek Church Road and on the south by Irving Street and Michigan Avenue.

Last year, we noted that prices had risen steadily in every property category — condos, townhouses and detached homes — for 20010 between 2002 and 2012, indicating the growing desirability of the zip code in recent years. (In zip codes with more established reputations, prices tended to peak with the housing bubble in 2007.) The other notable trend was the three-fold increase in the number of condos sold in 2007 versus 2002.

Home Price Watch: Gone in a Week in 20010: Figure 2

This year, the big story, aside from being home to the hottest neighborhood housing market in the city, was townhouses. The median price in this category jumped up to $639,500 in 2013 from an inflation-adjusted median of $570,605 last year, a 12 percent increase. The median sale price is now well above 2007 levels.

The other trend matches what has been going on in much of DC this year: houses flew off the market. Condos sold in a median of ten days, and townhouses in just seven.

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This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_quickly_selling_condos_and_townhouses_in_20010/7863

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