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Home Price Watch: Townhomes Break $1 Million in 20009

  • August 12, 2013

by Shilpi Paul

Home Price Watch: Townhomes Break $1 Million in 20009: Figure 1
Homes in 20009.

A few weeks ago, UrbanTurf restarted its semi-regular feature, Home Price Watch, where we analyze the housing markets in various zip codes around the DC area.

This week, we are examining the zip code of 20009. Roughly speaking, 20009 is bordered to the north by Irving Street, to the west by Connecticut Avenue, to the east by 11th Street and to the south by Q Street NW. Portions of Dupont Circle (excluding the circle itself), Columbia Heights, Logan Circle, the U Street Corridor and Adams Morgan are encompassed within those borders. If there were ever a zip code for which we wished RealEstate Business Intelligence (RBI) broke down housing data by neighborhood, this would be it.

When we looked at 20009 last year, the trajectory of home prices matched the trend in many other parts of the city: prices rose dramatically between 2002 and 2007, and then leveled off somewhat.

Home Price Watch: Townhomes Break $1 Million in 20009: Figure 2

This year, the prices of condos and detached homes stayed level in comparison to last year, but townhouse prices rose significantly. For the townhouses sold so far in 2013, the median price comes in at $1,060,500, compared to $839,000 last year.

Another takeaway, though probably not surprising to regular readers, is the low median number of days that homes are spending on the market. Though the statistic has been consistently low in 20009 for the past decade, 2013 has been a particularly stand-out year. The 465 condos sold so far this year stayed on the market for a median of eight days, and the 68 townhouses for just six days.

This article is based on custom data provided to UrbanTurf by RealEstate Business Intelligence (RBI), a developer of real estate technology and information in the DC area.

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This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_townhomes_break_1_million_in_20009/7442

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