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Home Price Watch: Townhouse Prices Increase By 35 Percent in 20008

  • September 16, 2013

by Shilpi Paul

Home Price Watch: Townhouse Prices Increase By 35 Percent in 20008: Figure 1
Rowhouses in Kalorama.

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 using numbers provided by RealEstate Business Intelligence (RBI).

This week, we are examining the zip code of 20008. Roughly speaking, the zip code encompasses portions of the Forest Hills, Van Ness, Cleveland Park, Woodley Park, and Kalorama neighborhoods.

The area contains a mix of very tony houses and small condos and co-ops. Last year, 20008 revealed a market of detached homes and townhouses with some of the highest median prices in DC — at $1,290,000 and $955,050, respectively — and condos with much lower price tags, with a median sale price of $376,000.

Home Price Watch: Townhouse Prices Increase By 35 Percent in 20008: Figure 2

The high price trend continued this year. While the median price of a condo actually dropped slightly, to $371,000, the median price for detached homes rose slightly, to $1,407,500.

The most notable change, however, was in the category of townhouses: median sale prices leapt up to $1,318,500 this year, an increase of 35 percent from 2012. Despite the high prices, townhouses sold faster than any other property type in the zip code, spending on median just 8 days on the market.

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This article originally published at http://dc.urbanturf.com/articles/blog/home_price_watch_townhouse_prices_increase_by_35_percent_in_20008/7561

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