H Street Area Open Houses: November 25

In the hyperlinks below I've attached open houses scheduled in and around H Street for the weekend of November 25, 2012.

• All results are sorted in order of list price for easy reference.
• Globe and camera icons next to individual listings show maps and photos.
• All property types are included: townhouses, semi-detached homes, condos/coops, single-family homes, etc.

H Street
Sunday, November 25 -  1 open

Bloomingdale, Truxton Circle and Eckington
Sunday November 25 - 9 opens


Need more? I've also compiled a list of all DC, MD, VA open houses this weekend should your search parameters encompass other areas.

Monthly Housing Market Data

Every month several housing reports are released which include statistics on the Washington Metro Area market. Although each analysis employs differing methodologies with varying results, most show (as usual) the Washington Area to be one of the stronger housing markets nationwide.


November 19: The National Association of Realtors report for U.S. existing home sales -- with data through October 2012 -- was released November 19. The national median existing-home price is 11.1% above a year ago. This marks eight consecutive monthly year-over-year increases, which last occurred from October 2005 to May 2006


November 12: Real Estate Business Intelligence housing market statistics for zip code 20002 -- with data for October -- was released November 12. The average sold price is up 19.45% over October 2011. There 68 sales in October - an increase of 36% over last year. The average property sold for 98.89% of original list price.


November 12: The latest Real Estate Business Intelligence (RBI) analysis of the DC Metro Area housing market -- with data through October 2012 -- was released November 12. Metro area home sales are up 16.1% from October 2011, prices increased 13.3%.

November 8: The latest Clear Capital Home Data Index Market Report -- with data through October 2012 -- was released November 8. Clear Capital research methodology shows Washington Metro Area home prices rose 12.9% over October 2011. Nationwide home prices increased 4.3% in the same period.

November 7: The third quarter 2012 report by the National Association of Realtors was released November 7. NAR research methodology shows the national median existing single-family home price was $186,100 in the third quarter, up 7.6% from $173,000 in the third quarter of 2011, which is the strongest year-over-year price increase since the first quarter of 2006. In the condo sector, prices - covering changes in 54 metro areas - rose 7.7% from the third quarter of 2011.


November 6: The CoreLogic Home Price Index (HPI®) -- reporting data through September 2012 -- was released November 6. CoreLogic research methodology shows Washington, DC home prices rose 6.7% over September 2011 while DC Metro Area prices rose 5.3%. Nationwide a gain of 5% was reported.


November 2: Delta Associates Washington Condominium Market Overview -- reporting data for third quarter 2012 -- was released November 2. New condo sales prices up 3.1% in the Washington metro area from September 2011.

October 30 - The Standard & Poor/Case-Shiller Home Price Index -- reporting data through August 2012 -- was released October 30. Washington Metro Area home prices increased 4.3% over August 2011. Nationwide home prices for the composite 20 cities increased 2.0% from August 2011. Washington DC shows the biggest increase in average home prices since January 2000.

October 25: Delta Associates Washington Area Housing Outlook for 3rd quarter 2012 was released October 25. Metro area home prices are up 4%, the average home is selling at 98% of list price. Prices remain highest in DC, Arlington and Alexandria. The average price of a home in third quarter 2012 is $547,277 - 3.2% higher than the third quarter of 2011. Time on market dropped to 54 days, down from 69 days last year.

October 25: The August Pending Home Sales Index of the National Association of Realtors -- with data through September -- was released October 25. Pending U.S. home sales have risen for 17 consecutive months on a year-over-year basis, leading to the solid recovery seen in closed existing-home sales this year. Annually, contracts increased 14.5% over September 2011. Monthly: contracts increased 0.3% from August to September.

October 19: The National Association of Realtors report on U.S. *existing* home sales -- with data through September 2012 -- was released October 19. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, are 11% above September 2011. The national median existing-home price for all housing types is up 11.3% from a September of last year. Listed inventory is 20% below a year ago.

October 10: The latest Real Estate Business Intelligence (RBI) analysis of the DC Metro Area housing market -- with data through September 2012 -- was released October 10. Sales have increased 4.7% over September of last year. Close prices have risen 6.5%, contracts are up 9.6%, average time on market is down to 26 days.

For more information on how to interpret sales statistics check out my recent blog post How to Evaluate Housing Reports which discusses important differences in research methodology and how it impacts numbers for the local Washington area.

* * *

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



DC, MD, VA Open Houses: November 25

In the hyperlinks below I've attached open houses scheduled this weekend for DC, Arlington, Alexandria, and the close-in Montgomery County suburbs.

• All results are sorted in order of list price for easy reference.
• Globe and camera icons next to individual listings show maps and photos.
• All property types are included: condos/coops, single-family homes, townhouses, semi-detached homes, etc.

Washington, DC

Sunday, November 25 - 17 opens

 

Arlington

Sunday, November 25 - 25 opens
 

Alexandria

Sunday, November 25 - 22 opens
 

Montgomery County

Bethesda, Chevy Chase, Potomac, Rockville, Silver Spring, Takoma Park
Sunday, November 25 - 47 opens

Monthly Housing Market Data

Every month several housing reports are released which include statistics on the Washington Metro Area market. Although each analysis employs differing methodologies with varying results, most show (as usual) the Washington Area to be one of the stronger housing markets nationwide.


November 19:  The National Association of Realtors report for U.S. existing home sales -- with data through October 2012 -- was released November 19.  The national median existing-home price is 11.1% above a year ago. This marks eight consecutive monthly year-over-year increases, which last occurred from October 2005 to May 2006.


November 13: The latest Real Estate Business Intelligence (RBI) analysis of the DC Metro Area housing market -- with data through October 2012 -- was released November 12. Sales are up 16.1% from October 2011, prices increased 13.3%.

November 8: The latest Clear Capital Home Data Index Market Report -- with data through October 2012 -- was released November 8. Clear Capital research methodology shows Washington Metro Area home prices rose 12.9% over October 2011. Nationwide home prices increased 4.3% in the same period.

November 7: The third quarter 2012 report by the National Association of Realtors was released November 7. NAR research methodology shows the national median existing single-family home price was $186,100 in the third quarter, up 7.6% from $173,000 in the third quarter of 2011, which is the strongest year-over-year price increase since the first quarter of 2006. In the condo sector, prices - covering changes in 54 metro areas - rose 7.7% from the third quarter of 2011.


November 6: The CoreLogic Home Price Index (HPI®) -- reporting data through September 2012 -- was released November 6. CoreLogic research methodology shows Washington, DC home prices rose 6.7% over September 2011 while DC Metro Area prices rose 5.3%. Nationwide a gain of 5% was reported.


November 2: Delta Associates Washington Condominium Market Overview -- reporting data for third quarter 2012 -- was released November 2. New condo sales prices up 3.1% in the Washington metro area from September 2011.


October 30 - The Standard & Poor/Case-Shiller Home Price Index -- reporting data through August 2012 -- was released October 30. Washington Metro Area home prices increased 4.3% over August 2011. Nationwide home prices for the composite 20 cities increased 2.0% from August 2011. Washington DC shows the biggest increase in average home prices since January 2000.


October 25: Delta Associates Washington Area Housing Outlook for 3rd quarter 2012 was released October 25. Metro area home prices are up 4%, the average home is selling at 98% of list price. Prices remain highest in DC, Arlington and Alexandria. The average price of a home in third quarter 2012 is $547,277 - 3.2% higher than the third quarter of 2011. Time on market dropped to 54 days, down from 69 days last year.


October 25: The August Pending Home Sales Index of the National Association of Realtors -- with data through September -- was released October 25. Pending U.S. home sales have risen for 17 consecutive months on a year-over-year basis, leading to the solid recovery seen in closed existing-home sales this year. Annually, contracts increased 14.5% over September 2011. Monthly: contracts increased 0.3% from August to September.

October 19: The National Association of Realtors report on U.S. *existing* home sales -- with data through September 2012 -- was released October 19. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, are 11% above September 2011. The national median existing-home price for all housing types is up 11.3% from a September of last year. Listed inventory is 20% below a year ago.


For more information on how to interpret sales statistics check out my recent blog post How to Evaluate Housing Reports which discusses important differences in research methodology and how it impacts numbers for the local Washington area.

* * *

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



Freddie Mac: Mortgage Rates Dip Again to New Record Lows

Freddie Mac's weekly Primary Mortgage Market Survey -- released November 21 -- shows fixed mortgage rates at new all-time record lows amid indicators of higher consumer confidence and lower wholesale prices.

• 30-Year fixed rate mortgage averaged 3.31%, up from 3.34% last week and 3.98% one year ago

• 15-Year fixed rate mortgage averaged 2.63%, down from 2.65% last week and 3.30% one year ago

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Borrowers may still pay closing costs which are not included in the survey.

To compare and track average mortgage rates from previous weeks throughout the year consult Freddie Mac's Compilation of Weekly Survey Data for 2012.

Mortgage calculators to compare payments and equity:

• Freddie Mac
• Bankrate.com
• The Federal Reserve Board

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders.

Mortgage Bankers Association Weekly Mortgage Application Survey

The Weekly Mortgage Application Survey of the Mortgage Bankers Association -- with data for the week ending November 16 -- was released November 21.  The refinance share of mortgage activity remained unchanged at 81% of total applications from the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 4% of total applications.

Application Volume

• The Market Composite Index, a measure of mortgage loan application volume, decreased 2.2% on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index decreased 13% compared with the previous week.
  
  
• The Refinance Index decreased 3% from the previous week.
  
  
• The seasonally adjusted Purchase Index increased 3% from one week earlier. The unadjusted Purchase Index decreased 11% compared with the previous week and was 6% lower than the same week one year ago.

Interest Rates

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,500 or less) increased to 3.54% from 3.52%, with points decreasing to 0.40 from  0.41 (including the origination fee) for 80% loan-to-value ratio (LTV) loans.  The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,500) decreased to 3.76% from 3.83%, with points decreasing to 0.40 from 0.41 (including the origination fee) for 80% LTV loans.  The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 3.36% from 3.34%, with points decreasing to 0.63 from 0.78 (including the origination fee) for 80% LTV loans.  The effective rate decreased from last week.

The average contract interest rate for 15-year fixed-rate mortgages increased to 2.89% from 2.88%, with points decreasing to 0.25 from 0.37 (including the origination fee) for 80% LTV loans. The effective rate decreased from last week. 

*     *     *

The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field.

For additional information, visit MBA's web site: www.mortgagebankers.org.

NAR: Existing U.S. Home Sales Rise 11.1%

The National Association of Realtors report for U.S. existing home sales -- with data through October 2012 -- was released November 19.

 

Existing-home sales are re-sales of extant property, they are completed transactions for the month prior; new construction is excluded from review. Data includes all property types: single-family homes, townhomes, condominiums and co-ops.

U.S. Home Sales

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 2.1% in October from September, and are 10.9% above October 2011. 

The national median existing-home price for all housing types was $178,600 in October, which is 11.1% above a year ago. This marks eight consecutive monthly year-over-year increases, which last occurred from October 2005 to May 2006.

Single-family homes:

• Single-family home sales rose 1.9% in October from 4.14 million in September, and are 9.6% above October 2011.
• The median existing single-family home price was $178,700 in October, which is 10.9% higher than a year ago.

Condominiums and co-ops:

• Existing condominium and co-op sales rose 3.6% in October, and are 21.3% above a year ago.
• The median existing condo price was $177,500 in October, up 11.7% from October 2011.

*      *      *
 

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

 



 

H Street Area Open Houses: November 17-18

In the hyperlinks below I've attached open houses scheduled in and around H Street for the weekend of November 17-18, 2012.

• All results are sorted in order of list price for easy reference.
• Globe and camera icons next to individual listings show maps and photos.
• All property types are included: townhouses, semi-detached homes, condos/coops, single-family homes, etc.

H Street
Sunday, November 18 - 2 opens
Bloomingdale, Truxton Circle, and Eckington
Saturday, November 17 - 6 opens
Sunday, November 18 - 8 opens

 
Need more? I've also compiled a list of all DC, MD, VA open houses this weekend should your search parameters encompass other areas.

Monthly Housing Market Data

Every month several housing reports are released which include statistics on the Washington Metro Area market. Although each analysis employs differing methodologies with varying results, most show (as usual) the Washington Area to be one of the stronger housing markets nationwide.


November 12: Real Estate Business Intelligence housing market statistics for zip code 20002 -- with data for October -- was released November 12.  The average sold price is up 19.45% over October 2011.  There 68 sales in October - an increase of 36% over last year.  The average property sold for 98.89% of original list price.


November 12: The latest Real Estate Business Intelligence (RBI) analysis of the DC Metro Area housing market -- with data through October 2012 -- was released November 12.  Metro area home sales are up 16.1% from October 2011, prices increased 13.3%.

November 8: The latest Clear Capital Home Data Index Market Report -- with data through October 2012 -- was released November 8. Clear Capital research methodology shows Washington Metro Area home prices rose 12.9% over October 2011. Nationwide home prices increased 4.3% in the same period.

November 7: The third quarter 2012 report by the National Association of Realtors was released November 7. NAR research methodology shows the national median existing single-family home price was $186,100 in the third quarter, up 7.6% from $173,000 in the third quarter of 2011, which is the strongest year-over-year price increase since the first quarter of 2006. In the condo sector, prices - covering changes in 54 metro areas - rose 7.7% from the third quarter of 2011.


November 6: The CoreLogic Home Price Index (HPI®) -- reporting data through September 2012 -- was released November 6. CoreLogic research methodology shows Washington, DC home prices rose 6.7% over September 2011 while DC Metro Area prices rose 5.3%. Nationwide a gain of 5% was reported.


November 2: Delta Associates Washington Condominium Market Overview -- reporting data for third quarter 2012 -- was released November 2. New condo sales prices up 3.1% in the Washington metro area from September 2011.

 

October 30 - The Standard & Poor/Case-Shiller Home Price Index -- reporting data through August 2012 -- was released October 30. Washington Metro Area home prices increased 4.3% over August 2011. Nationwide home prices for the composite 20 cities increased 2.0% from August 2011. Washington DC shows the biggest increase in average home prices since January 2000.

 

October 25: Delta Associates Washington Area Housing Outlook for 3rd quarter 2012 was released October 25. Metro area home prices are up 4%, the average home is selling at 98% of list price. Prices remain highest in DC, Arlington and Alexandria. The average price of a home in third quarter 2012 is $547,277 - 3.2% higher than the third quarter of 2011. Time on market dropped to 54 days, down from 69 days last year.

 

October 25: The August Pending Home Sales Index of the National Association of Realtors -- with data through September -- was released October 25. Pending U.S. home sales have risen for 17 consecutive months on a year-over-year basis, leading to the solid recovery seen in closed existing-home sales this year. Annually, contracts increased 14.5% over September 2011. Monthly: contracts increased 0.3% from August to September.

 

October 19: The National Association of Realtors report on U.S. *existing* home sales -- with data through September 2012 -- was released October 19. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, are 11% above September 2011. The national median existing-home price for all housing types is up 11.3% from a September of last year. Listed inventory is 20% below a year ago.

 

October 10: The latest Real Estate Business Intelligence (RBI) analysis of the DC Metro Area housing market -- with data through September 2012 -- was released October 10. Sales have increased 4.7% over September of last year. Close prices have risen 6.5%, contracts are up 9.6%, average time on market is down to 26 days.

 

For more information on how to interpret sales statistics check out my recent blog post How to Evaluate Housing Reports which discusses important differences in research methodology and how it impacts numbers for the local Washington area.

* * *

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



DC, MD, VA Open Houses: November 17-18

In the hyperlinks below I've attached open houses scheduled this weekend for DC, Arlington, Alexandria, and the close-in Montgomery County suburbs.

• All results are sorted in order of list price for easy reference.
• Globe and camera icons next to individual listings show maps and photos.
• All property types are included: condos/coops, single-family homes, townhouses, semi-detached homes, etc.

 

Washington, DC
Saturday, November 17 - 32 opens
Sunday, November 18 - 206 opens
 

Arlington

Saturday, November 17 - 7 opens
Sunday, November 18 - 56 opens
 

Alexandria

Saturday, November 17 - 7 opens
Sunday, November 18 - 62 opens
 

Montgomery County

Bethesda, Chevy Chase, Potomac, Rockville, Silver Spring, Takoma Park
Saturday, November 17 - 32 opens
Sunday, November 18 - 170 opens 

Monthly Housing Market Data

Every month several housing reports are released which include statistics on the Washington Metro Area market. Although each analysis employs differing methodologies with varying results, most show (as usual) the Washington Area to be one of the stronger housing markets nationwide.


November 13: The latest Real Estate Business Intelligence (RBI) analysis of the DC Metro Area housing market -- with data through October 2012 -- was released November 12.  Sales are up 16.1% from October 2011, prices increased 13.3%.

November 8: The latest Clear Capital Home Data Index Market Report -- with data through October 2012 -- was released November 8. Clear Capital research methodology shows Washington Metro Area home prices rose 12.9% over October 2011. Nationwide home prices increased 4.3% in the same period.

November 7: The third quarter 2012 report by the National Association of Realtors was released November 7. NAR research methodology shows the national median existing single-family home price was $186,100 in the third quarter, up 7.6% from $173,000 in the third quarter of 2011, which is the strongest year-over-year price increase since the first quarter of 2006. In the condo sector, prices - covering changes in 54 metro areas - rose 7.7% from the third quarter of 2011.


November 6: The CoreLogic Home Price Index (HPI®) -- reporting data through September 2012 -- was released November 6. CoreLogic research methodology shows Washington, DC home prices rose 6.7% over September 2011 while DC Metro Area prices rose 5.3%. Nationwide a gain of 5% was reported.


November 2: Delta Associates Washington Condominium Market Overview -- reporting data for third quarter 2012 -- was released November 2. New condo sales prices up 3.1% in the Washington metro area from September 2011.


October 30 - The Standard & Poor/Case-Shiller Home Price Index -- reporting data through August 2012 -- was released October 30. Washington Metro Area home prices increased 4.3% over August 2011. Nationwide home prices for the composite 20 cities increased 2.0% from August 2011. Washington DC shows the biggest increase in average home prices since January 2000.


October 25: Delta Associates Washington Area Housing Outlook for 3rd quarter 2012 was released October 25. Metro area home prices are up 4%, the average home is selling at 98% of list price. Prices remain highest in DC, Arlington and Alexandria. The average price of a home in third quarter 2012 is $547,277 - 3.2% higher than the third quarter of 2011. Time on market dropped to 54 days, down from 69 days last year.


October 25: The August Pending Home Sales Index of the National Association of Realtors -- with data through September -- was released October 25. Pending U.S. home sales have risen for 17 consecutive months on a year-over-year basis, leading to the solid recovery seen in closed existing-home sales this year. Annually, contracts increased 14.5% over September 2011. Monthly: contracts increased 0.3% from August to September.

October 19: The National Association of Realtors report on U.S. *existing* home sales -- with data through September 2012 -- was released October 19. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, are 11% above September 2011. The national median existing-home price for all housing types is up 11.3% from a September of last year. Listed inventory is 20% below a year ago.


For more information on how to interpret sales statistics check out my recent blog post How to Evaluate Housing Reports which discusses important differences in research methodology and how it impacts numbers for the local Washington area.

* * *

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



Freddie Mac:Mortgage Rates Dip to New Record Lows

Freddie Mac's weekly Primary Mortgage Market Survey -- released November 15 -- shows fixed mortgage rates at new all-time record lows amid indicators of higher consumer confidence and lower wholesale prices.

• 30-Year fixed rate mortgage averaged 3.34%, up from 3.40% last week and 4.00% one year ago

• 15-Year fixed rate mortgage averaged 2.65%, down from 2.69% last week and 3.31% one year ago

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Borrowers may still pay closing costs which are not included in the survey.

To compare and track average mortgage rates from previous weeks throughout the year consult Freddie Mac's Compilation of Weekly Survey Data for 2012.

Mortgage calculators to compare payments and equity:

• Freddie Mac
• Bankrate.com
• The Federal Reserve Board

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders.

MBA: Mortgage Applications Increase 12.6%

The Weekly Mortgage Application Survey of the Mortgage Bankers Association -- with data for the week ending November 9 -- was released November 14.  Mortgage applications increased 12.6% from one week earlier

Application Volume

• The Market Composite Index, a measure of mortgage loan application volume, increased 12.6% on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index increased 12% compared with the previous week.
  
• The Refinance Index increased 13% from the previous week, ending a five-week decline.
  
• The seasonally adjusted Purchase Index increased 11% from one week earlier. The unadjusted Purchase Index increased 8% compared with the previous week and was 22% higher than the same week one year ago.

Interest Rates

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,500 or less) decreased to 3.52% from 3.61%.  This record low rate for 30 year fixed mortgages beats the previous survey low of 3.53% for the week ending September 28, 2012.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,500) decreased to 3.83% from 3.88%,

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 3.34% from 3.37%.

The average contract interest rate for 15-year fixed-rate mortgages decreased to 2.88% from 2.95%.

* * *

The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field.

For additional information, visit MBA's web site: www.mortgagebankers.org.

RBI Zip Code 20002 Housing Report: Average Sold Price Up 19.49%

Real Estate Business Intelligence housing market statistics for zip code 20002 -- with data for October -- was released November 12.  The RBI report includes all property types: single-family detached houses, semi-detached rowhouses, condos and coops. 

October 2012 stats for zip code 20002:

• Average Sold Price: up 19.45% over October 2011
• Median Sold Price: is up 4.13% over last year
• Sales: there were 68 sales - an increase of 36%
• Close Price Percentage: the average property sold for 98.89% of original list price
• Days-on-Market: 32 -- a drop of 39.62% from October 2011

October 2012 Statistics: Zip Code 20002
Statistic	Values	Year Over Year	Month Over Month
Total Sold Dollar Volume	$33,089,087	+62.51%	+37.2%
Closed Sales	68	+36%	+30.77%
Median Sold Price	$454,000	+4.13%	+3.3%
Average Sold Price	$486,604	+19.49%	+4.92%
Avg Days-on-Market	32 days	-39.62%	-23.61%
Avg Sold to Orig List Ratio	98.89%	+1.54%	-+1.87%

RBI's Detailed Report for zip 20002 shows housing inventory has dropped a remarkable 47.75% -- down from 178 in October of 2011 to 98 in October 2012.  Generally, when housing inventory declines buyers must compete for fewer available properties leading to an increase in prices and shorter days on market.  As the days on market decreased in October the average sold price in zip code 20002 increased 19.49%.

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 October 2012 there were 26 sales of three-bedroom townhouses in zip code 20002 which sold for an average price of $422,091-- an increase of 7.73% over October 2011. 
• 4+BR houses: there were 14 sales of houses with four or more bedrooms which sold for an average price of $625,521 -- a price increase of 14.34% over last year.

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.

H Street Corridor

In comparison with the entire 20002 zip code, the smaller H Street corridor area reported the following higher sales statistics for October (source: MRIS, November 13, 2012).

• the average three-bedoom townhouse sold for $571,890 after spending an average of only 28 days on market.
• the average four-bedroom home sold for $621,460 after an average of 75  days on market

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. 

  Ben Dursch  

202-288-4334 | Ben@EversCo.com

HStreetAgent@blogspot.com