Rosslyn. Photo by Amanda Abrams.
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 March home sales for the northern Virginia zip code of 22209, using custom data provided by MRIS.
Situated just above Arlington National Cemetery, 22209 is home to the Rosslyn, North Rosslyn, and Fort Myer Heights neighborhoods in Arlington, VA.
Twenty-six units sold in zip code 22209 in March 2011 and here is a chart providing a year-over-year comparison of sales volume, median price and average price:
22209 Market Summary
Compared to March 2010, aggregate dollar volume of homes sold was up fractionally (0.2%); the average sales price dropped 7.51 percent, and the median sales price fell 15.83 percent. As far as condos versus houses, the average price for a condo was down 4.12 percent year-over-year, and the average single-family home price rose a mere 1.92 percent.
Of the 26 properties that sold in March, 24 were condos priced between $100,000 and $2.5 million. The two single-family homes to sell went for between $1 million and $2.5 million.
Median home sales prices in 22209 since April 2010
At March’s sales pace, there’s a 2.8-month supply of homes and condos for sale in 22209. Last month’s sales pace was the strongest for March since 2007. In fact, it was the largest number of condos sold in any month during the past year.
Month in and month out, condos dominate sales in 22209, which may not be too surprising when one looks at Rosslyn’s skyline. (86 percent of all units sold in the past year were condos.) Although the condo market shows decent breadth in terms of price range, selection for any particular price point is limited, which may make it challenging for those who wish to buy in the area.
Below are charts that provide more detailed statistics of the market in 22209.
Unit Sales Volume
Next Week: A look at the housing market in the upper northwest DC zip code of 20016.
- Market Watch 20005: Logan Circle, Thomas Circle
- Market Watch 20008: Forest Hills, Cleveland Park, Woodley Park, and Kalorama
- DC’s March Home Sales Surge Represents Return to Normalcy
- Rosslyn: Hitting Its Growth Spurt
- Market Watch 20912: Takoma Park
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 https://dc.urbanturf.com/articles/blog/market_watch_22209_rosslyn_and_north_rosslyn/3423.
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