Market Watch 20036: Dupont Circle South

by Keith Gibbons

Market Watch 20036: Dupont Circle South: Figure 1
A condo on the market in 20036.

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 20036, which largely consists of the area just south of Dupont Circle.

20036 is roughly bounded by Q Street NW on the north, 16th Street NW on the east, 21st Street NW on the west, and K Street NW on the south. The majority of the zip code lies south of the circle itself, which makes for an interesting housing market as that area is made up largely of condos and office space.

Ten units sold in zip code 20036 in April 2011 and here is a chart providing a year-over-year comparison of sales volume, median price and average price:

Market Watch 20036: Dupont Circle South: Figure 2
20036 Market Summary

Of the ten properties that sold in 20036 last month, none were houses. Despite the fact that there are a handful of million-dollar homes listed in the zip code, over the past year, most of the units sold in 20036 had two or fewer bedrooms.

Sales in April 2011 were about the same as the previous year when 11 units sold. Of the ten units sold last month, nine fetched between $200,000 and $500,000 and the 10th sold for between $600,000 and $800,000. Year over year, the average sales price rose just over 11 percent, but the median sales price fell by about that same percentage.

Market Watch 20036: Dupont Circle South: Figure 3
Median home sales prices in 20036 since April 2010.

At April’s sales pace, there’s a 3.3-month’s supply of condos for sale, and at the moment, there are just six houses listed, all for over $1.4 million. Properties in 20036 are selling for 94.3 percent of their listing price.

20036 is a popular place for those in the market for a condo given its central location, but buyers should be prepared to move quickly due to its low inventory. Those looking for a million-dollar house may be able to ‘shop’ at their leisure (because the inventory sticks around a little longer), but will have fewer choices. And if you are looking for a shell studio with some history, the place that Bob Woodward rented during the Watergate era is still on the market.

Below are charts that provide more detailed statistics of the market in 20036.

Market Watch 20036: Dupont Circle South: Figure 4
Average Sales Price

Market Watch 20036: Dupont Circle South: Figure 5
Unit Sales Volume

Market Watch 20036: Dupont Circle South: Figure 6
Dollar Volume

Next Week: A look at the housing market in the 20001 zip code.

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Market Watch 20036: Dupont Circle South: 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: market watch, dupont circle, dclofts, 20036

This article originally published at http://dc.urbanturf.com/articles/blog/market_watch_20036_dupont_circle_south/3543

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