RBI: Zip Code 20002 Home Prices Up 52.87%

Real Estate Business Intelligence housing market statistics for zip code 20002 -- with data for September -- was released October 10.  The RBI report includes all property types: single-family detached houses, semi-detached rowhouses, condos and coops. 

Zip code 20002 includes a very large area that contains H Street, Capitol Hill North, NoMa, Eckington, Edgewood and Trinidad.  It is therefore important to remember sales statistics can vary greatly within a given zipcode.  To illustrate this point I've included below brief statistics for the H Street corridor area to demonstrate the range of values possible.  Contact me for a custom report on your specific neighborhood, your property size and type.
 
September 2012 stats for zip code 20002:

 

• Average Sold Price: up 32.5% over September 2011
• Median Sold Price: is up 52.87% over last year
• Close Price Percentage: the average property sold for 97.07% of original list price
• Days-on-Market: 42 -- a drop of 42.47% from September 2011

September 2012 Statistics: Zip Code 20002
Statistic	Values	Year Over Year	Month Over Month
Total Sold Dollar Volume	$24,117,098	+23.44%	+10.23%
Closed Sales	52	+8.33%	-1.89%
Median Sold Price	$439,500	+52.87%	-3.41%
Average Sold Price	$463,790	+32.5%	-8.51%
Avg Days-on-Market	42 days	-42.47%	+75%
Avg Sold to Orig List Ratio	97.07%	-0.96%	-3.73%

RBI's Detailed Report for zip 20002 shows housing inventory has dropped a remarkable 49.21% compared to September 2011.  Generally, when housing inventory declines buyers must compete for fewer available properties leading to an increase in prices and shorter days on market.  In September the median sold price in zip code 20002 increased 52.87% while the days on market dropped 42.47% to 42.

The Detailed Report also provides a breakdown of sales by property type. The highest sales activity in September was for 3BR and 4+BR townhouses.

• 3BR houses: in September 2012 there were 23 sales of three-bedroom townhouses in zip code 20002 which sold for an average price of $453,165 -- an increase of 6.52% over September 2011. 
 
• 4+BR houses: there were 11 sales of houses with four or more bedrooms which sold for an average price of $633,900 -- a price increase of 12.21% over last year.

H Street Corridor

In comparison with the entire 20002 zip code, the smaller H Street corridor area reported the following higher sales statistics for September (MRIS, October 5, 2012).

• the average three-bedoom townhouse sold for $598,863 after spending an average of 38 days on market -- a price increase of 17.43% over September 2011
  
  
• the average four-bedroom home sold for $791,633 with an average of only 9 days on market -- a price increase of 29.14% over September of last year

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.

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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. 

 

  Ben Dursch  

 

202-288-4334 | Ben@EversCo.com

HStreetAgent@blogspot.com