View from a porch in Del Ray
For the past few months, UrbanTurf has been sifting through DC area 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). So far, we have covered ten zip codes, which are listed below.
This week we examined 22301, the Virginia zip code roughly bordered by Potomac Avenue on the east, King Street and Russell Road on the West, and Hume Avenue on the north, which includes the neighborhood of Del Ray.
The housing market for 22301 is dominated by townhouses and detached homes, and both sectors have remained quite strong over the last decade. For examples, the median sales price for townhouses has risen 41 percent since 2002, with homes staying on the market for just about a week. Detached homes, like the Del Ray bungalow pictured above, have shown a 21 percent price increase in ten years and currently spend a median of 20 days on the market.
In contrast to a number of DC zip codes, condos make up just a tiny segment of the housing stock in 22301; only a handful have sold in each of the years analyzed. While the condo market is very small, their prices have risen consistently. In ten years, the median price has more than doubled, going from $80,000 to $255,475.
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.
- Home Price Watch: Rowhouses in the H Street Corridor Double in Price
- Home Price Watch: Homes Hot, Condos Not in Upper NW
- Home Price Watch: Low Prices in Woodridge and Langdon
- Home Price Watch: Potential for More in Southwest Waterfront
- Home Price Watch: Posh Houses and Affordable Condos in 20008
- Home Price Watch: Spending $1 Million is the Norm in Georgetown
- Home Price Watch: Flying Off the Market in 20009
- Home Price Watch: Doubling in a Decade in Bloomingdale and LeDroit
- Home Price Watch: Adjusting for Inflation in Chevy Chase DC
- Home Price Watch: The Last 10 Years on the Hill
This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_steadily_increasing_prices_in_del_ray/6220
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