Tuesday, April 10, 2012

H Street Zip 20002 -- Home Prices Up 3.9%

March 2012 housing market statistics for DC zip code 20002 -- which includes H Street, Capitol Hill North, NoMa, Eckington, and Trinidad -- were released Tuesday, April 10th.  March shows higher sale prices and shorter days-on-market over last year, repeating a trend also seen in February.  The average property is now selling at 95.32% of original list price, an increase of .03% over March 2011.

  • Average Sold Price: up 3.9% over last year
  • Inventory: dropped 31.58%
  • Days-on-Market: dropped 22.97%

Generally, when housing inventory declines buyers must compete for fewer available properties leading to an increase in prices and shorter days on market.  Clearly, homes in 20002 are now selling faster and at higher prices than March 2011.

March 2012 Statistics: 20002
Statistic Values Year Over Year Month Over Month
Total Sold Dollar Volume $24,040,793 -18.05% 40.77%
Closed Sales 56 -21.13% 35.59%
Median Sold Price $383,750 1% 2.85%
Average Sold Price $429,300 3.90% 3.07%
Avg Days-on-Market 57 days -22.97% 21.28%
Avg Sold to Orig List Ratio 95.32% 0.03% -0.26%

The detailed report for zip 20002 shows the highest sales activity for three-bedroom
townhouses.  In March 2012 there were 23 sales of 3BR attached homes which sold for an average price of $460,809. 

Real Estate Business Intelligence (RBI) is the research component of local multiple listing service MRIS.  RBI provides the most recent and accurate housing market statistics to the public based on actual sales recorded in MRIS.  Monthly housing market statistics for every zip code, county, or region in the Washington metro area can be searched at RBI.  Just enter your zip code or select your county and search. 

Contact me for more information on our local real estate market, and on buying or selling a home. I'm always available for your questions and happy to consult with you on your real estate needs.

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