Tuesday, February 28, 2012

Standard & Poor's/Case-Shiller Home Price Indices, February 28, 2012

The latest Standard & Poor's/Case-Shiller Home Price Index reporting data through December 2011 shows a drop in Washington metropolitan *area* home prices:

  • Washington area - prices showed a monthly drop of 1.2% from November to December and a decrease of 1.6% from December 2010.
  • Nationwide - home prices showed a monthly drop of 3.8% from November to December and a decrease of 4% from December 2010.

When reviewing the data keep in mind:

  • Report Date - These numbers are for December 2011.  The S&P/Case-Shiller Home Price Indices are published on a two month lag to offset delays in sales price data from county deed recorders.
  • Property Type - The index reports single-family/detached home prices only; condo and co-op sales statistics are not included in the analysis. 

S&P methodology defines the Washington metropolitan area as including parts of three states and the District of Columbia:

  • Washington, DC
  • Maryland - Calvert, Charles, Frederick, Montgomery, and Prince Georges.
  • Virginia - Alexandria City, Arlington, Clarke, Fairfax, Fairfax City, Falls Church City, Fauquier, Fredericksburg City, Loudoun, Manassas City, Manassas Park City, Prince William, Spotsylvania, Stafford, Warren.
  • West Virginia - Jefferson.

For more specific sales statistics in your neighborhood search the database of RealEstate Business Intelligence (RBI).  RBI is the research component of Metropolitan Regional Information Systems (MRIS) -- the Washington area's multiple listing service.  Simply enter your zip code or neighborhood and get sales statistics instantly.

H Street, NE Named Best Neighborhood

Popular PBS home renovation show This Old House has named H Street, NE named a "Best Old House Neighborhood".

"The neighborhood is known for its two-story brick rowhouses in the Federal, Colonial Revival, and Queen Anne styles. Due to its growing popularity, home prices have nearly doubled in the past two years, now ranging from $300,000 to $800,000, depending on condition."

"H Street renewal is expected to continue, thanks to housing and commercial developments slated for the next few years. City leaders are optimistic that the completion of a new streetcar line, which will link H Street to downtown in 2013 will create even more interest. In 2006, a historic 1938 movie theater reopened as the Atlas Performing Arts Center, now a centerpiece of the neighborhood's arts district."

Sunday, February 26, 2012

Real Estate News This Week: February 19-25, 2012

Check out my latest DC area real estate newsletter for February 19-25, 2012.  This week's  reports include:
  • Washington housing market favoring sellers.
  • FHFA: DC home prices up 2.23% over last year.
  • DC area ranked #1 and #2 in U.S. job growth.
  • New mixed-use development throughout metro area.

For daily updates consult my Twitter feedThere you will find the latest information on Washington area real estate news including:
  • market statistics
  • sales figures
  • development projects
  • buyer/seller advice 
As always I'm available for your questions.   I hope you're all enjoying what turned out to be a pretty nice weekend.

Saturday, February 25, 2012

H Street Agent Welcomes You

Welcome to the H Street Agent blog where I follow the latest and ongoing developments in DC area residential (and sometimes commercial) real estate.  Here I provide the information that helps you understand our local Washington Area market, whether you're a consumer, buyer, seller, or real estate professional.  News on Washington area sales statistics and the local development pipeline reveal what's really happening in the DC area.  

For the latest updates between my blog posts please check out my Twitter feed @BenDursch.