Home Price Watch: Steadily Increasing Prices in Takoma Park

by Shilpi Paul

Home Price Watch: Steadily Increasing Prices in Takoma Park: Figure 1
Home on Houston Avenue. Amanda Abrams.

UrbanTurf has been analyzing the home price data of a dozen zip codes around the region over the past few months. A full rundown of the zip codes that we have covered is listed below.

This week, we examine 20912, the Maryland zip code which is made up almost entirely of the neighborhood of Takoma Park. It is bounded by the District border to the east and roughly by University Boulevard on the west, with jagged, irregular boundaries to the north and south.

20912’s housing market is dominated by detached homes. From Victorians to Craftsman bungalows to Cape Cods, Takoma Park’s leafy streets are ripe with family-sized houses. So, it should come as no surprise that 157 detached homes have sold so far this year, at a median price of $410,000, up from the 2002 median of $285,000 (when adjusting for inflation, that number rises to $366,455).

Home Price Watch: Steadily Increasing Prices in Takoma Park: Figure 2

The other story in 20912 is the growing condo market, as sales increased threefold between 2002 and 2012. While prices didn’t increase as notably, the number of units sold rose from just 12 in 2002 to 47 in 2012.

Home Price Watch: Steadily Increasing Prices in Takoma Park: 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.

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This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_steadily_increasing_prices_in_takoma_park/6332

1 Comment

  1. Dan Metcalf said at 9:46 pm on Monday November 26, 2012:
    Those inflation-adjusted figures are fascinating - and certainly seem to reflect what we've been seeing on the ground; that Takoma Park continues to be a really lovely confluence of what homebuyers want in terms of community and what they can afford, and so our values have held up well enough that sellers' equity has not, in general, been seriously impinged.

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