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Market Watch 20020: Historic Anacostia, Hillcrest, Naylor Gardens

by Keith Gibbons

Market Watch 20020: Historic Anacostia, Hillcrest, Naylor Gardens: Figure 1

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 analyzes February home sales statistics for the 20020 zip code, which is made up largely of the Historic Anacostia, Hillcrest and Naylor Gardens neighborhoods (among others). It is also home to the Anacostia and Congress Heights Metro stations, both on the Green Line.

Twelve units sold in zip code 20020 in February 2011 and here is a chart providing a year-over-year comparison of sales volume, median price and average price:

Market Watch 20020: Historic Anacostia, Hillcrest, Naylor Gardens: Figure 2
20020 Market Summary

  • Compared to February 2010, aggregate dollar volume was down 25.89 percent. The average sales price fell by that very same percentage (25.89 percent), and the median sales price dropped 10.81 percent.
  • Two condos and ten homes sold in February. The average price for a home fell 14.96 percent, and no condos sold in February 2010, so we were unable to provide a year-over-year comparison of average price.
  • No home sold for more than $400,000 in 20020 this past February, and the two condos that did sell went for less than $50,000.

Market Watch 20020: Historic Anacostia, Hillcrest, Naylor Gardens: Figure 3
Median home sales prices in 20020 since March 2010

The average sales price in 20020 was 70.54 percent less than that of listings sold in the rest of DC; the median sales price in the zip code was 63.33 percent less. At February’s sales pace, there is approximately a 14.4-month’s supply of homes and condos for sale in 20020. According to MRIS data, no condo is listed for more than $300,000 and only one home is listed for more than $500,000. Properties sold in February fetched about 81.47 percent of the asking price, a sign pointing toward it being a buyer’s market. February’s total sales activity (closed and new contracts) was the best it has been since 2008.

Given the price points mentioned and the potential impact of Department of Homeland Security’s (DHS) new headquarters at St. Elizabeth’s, forward-thinking home buyers and investors might want to consider properties in this zip code. As DHS consolidates workers spread among more than 40 buildings throughout the area onto the St. Elizabeth campus, demand for nearby housing and services seems poised to increase.

Below are charts that provide more detailed statistics of the market in 20020.

Market Watch 20020: Historic Anacostia, Hillcrest, Naylor Gardens: Figure 4
Average Price

Market Watch 20020: Historic Anacostia, Hillcrest, Naylor Gardens: Figure 5
Unit Sales Volume

Market Watch 20020: Historic Anacostia, Hillcrest, Naylor Gardens: Figure 6
Dollar Volume

Next Week: A look at the housing market in 20008, a DC zip code which includes portions of the Forest Hills, Van Ness, Cleveland Park, Woodley Park, and Kalorama neighborhoods.

Photo above taken by Glenn Hennessey.

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Market Watch 20020: Historic Anacostia, Hillcrest, Naylor Gardens: Figure 7

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.

See other articles related to: naylor gardens, market watch, hillcrest, dclofts, anacostia

This article originally published at http://dc.urbanturf.com/articles/blog/market_watch_20020_historic_anacostia_hillcrest_naylor_gardens/3304

1 Comment

  1. Dylan said at 8:26 pm on Tuesday April 12, 2011:
    Precise analysis as usual. Do the stats above include bank-owned properties?

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