Thursday, May 10, 2012

H Street Zip 20002 -- Home Prices Up 18.9%

RBI's April 2012 housing market statistics for zip code 20002 -- which includes H Street, Capitol Hill North, NoMa, Eckington, and Trinidad -- were released May 10th.  April shows higher sales, prices, and shorter days-on-market over last year, repeating a trend also seen in the March report. 

Stats for zip code 20002:
  • Sales: up more than 26% over April 2011
  • Median Sold Price: up 18.9%
  • Close Price Percentage: the average property is now selling at 97.51% of original list price
  • Inventory: shows a remarkable drop of 26.78%
  • Days-on-Market: 46 days, down almost 27% from April 2011

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 April 2011.

April 2012 Statistics: Zip Code 20002
StatisticValuesYear Over YearMonth Over Month
Total Sold Dollar Volume$31,098,536+26.21%+29.36%
Closed Sales63+14.55%+12.5%
Median Sold Price$475,000+18.9%+23.78%
Average Sold Price$493,628+10.18%+14.98%
Avg Days-on-Market46 days-26.98%-19.3%
Avg Sold to Orig List Ratio97.51%-0.08%+2.3%

The detailed report for zip 20002 shows the highest sales activity for three-bedroom
townhouses. In April 2012 there were 25 sales of 3BR attached homes which sold for an average price of $521,206 -- an increase of 23.08% over April 2011.

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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