A condo building at 910 M Street NW
Housing Market Watch is a weekly feature on UrbanTurf in which Keith Gibbons, the brains behind DCHousingPrices.com analyzes recent MRIS statistics for a specific DC area zip code to help paint a picture of the housing market in that area.
In Housing Market Watch this week, UrbanTurf looks at the DC zip code of 20001. 20001 is roughly situated between 11th Street NW and North Capitol Street, bordered on the north by Michigan Avenue NW and on the south by the Mall. Portions of Shaw, LeDroit Park, Mount Vernon Square, Truxton Circle, Columbia Heights and Bloomingdale are included in this zip code.
Thirty-seven units sold in 20001 in April 2011 and here is a chart providing a year-over-year comparison of sales volume, median price and average price:
20001 Market Summary
Unit sales in April 2011 were down about 40 percent in the zip code, compared to April 2010. While the number of condos sold last month (24) was relatively unchanged from the previous April (27), there was a significant drop-off in homes sold. (Thirteen houses sold in April 2011, compared to 35 in April 2010.)
Year over year, the average sales price for all properties rose 4.69 percent, but the median price fell by about two percent. The zip code’s average price was 9.6 percent lower than the DC average and the median price was 5.51 percent higher.
Median home sales prices in 20001 since April 2010.
At April’s sales pace, there’s a 3.5-month’s supply of condos for sale and a 4.46-month’s supply of single-family homes. More than half of the condos listed last month were in the $300,000 to $500,000 price range, and $600,000 appeared to be the median price point for single-family homes: 28 were listed below that price, 30 above. According to MRIS, properties in 20001 are selling for 96.3 percent of their asking price.
The market in 20001 trends towards condos and attached houses; very few detached homes sell in 20001 in any given month. The zip code’s prices are reasonable by DC standards, which has many buyers considering a condo or a row house in one of the 20001 neighborhoods. Those looking currently should be aware that tight inventory will mean less bargaining leverage and the need to be prepared to move quickly when the right home is found.
Below are charts that provide more detailed statistics of the market in 20001.
Average Sales Price
Unit Sales Volume
Next Week: A look at the housing market in the 20004 zip code.
- Market Watch 20036: Dupont Circle South
- Market Watch 20814: Downtown Bethesda
- Market Watch 20016: AU Park, Spring Valley, Tenleytown
This article is based on custom data provided to UrbanTurf by MRIS, a developer of real estate technology and information as well as the largest multiple listing service (MLS) in the United States.
This article originally published at http://dc.urbanturf.com/articles/blog/market_watch_20001_shaw_ledroit_park_mount_vernon_square_bloomingdale/3580
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