Friday, November 25, 2011

MRIS October Sales Report: Zip Code 20009

Well, it's been a while since I posted a zip code sales analysis. And now I'm back! But a few things have changed. I've revamped the data table based on your feedback. You'll see three major changes going forward:
  1. I now provide sales information for the last three months of the current and prior year, e.g., August - October 2010 and 2011. Some readers didn't think data for one month provided sufficient insight into sales trends in a given zip code. 
  2. Some folks had a problem with 2011 being the left-most column so to appease them I moved it to the right. 
  3. Finally, I've combined the data into one table. Frankly, that makes my job easier.
I'll probably be adjusting the table over the next few weeks. Your suggestions for improvements are welcomed.

Today I analyze October's sales for zip code 20009 using data provided by MRIS and RBI. Forty-seven units sold in 20009 in October 2011. Key points in October's data:
  • Total unit sales were 9.62% lower.  The average price for a home fell 22.9% and the median price was 16.21% lower. 
  • Eight houses were sold for an average price of $796,125, down 16.8%. Thirty-nine condos were sold for an average price of $402,850, down 11.44%.
  • There were 208 active listings during October: 183 condos and 25 houses. More than half of the condos listed were priced $200-499K and most of the houses were listed at $500K or higher.
According to MRIS, properties in 20009 sold for 94.8% of the listing price, a slight dip from October 2010. At October's sales rate, there's a 4.69 months supply of condos and a 3.13 months supply of houses. In fact, inventory has been tight for the past three months for condos and houses.

Overall, homes are selling quickly in 20009 - the average days on market fell to 62 days, down almost 13% from October 2010. Looking ahead, 48 homes went under contract in October and another 45 went under a contingent contract.

Based on the sales data, 20009 is a seller's market. Properties appear to move quickly, but there appears to be some wiggle room on prices. The good news for condo buyers is that prices are relatively affordable [for DC] and supply is high enough to offer choices.


My good friends at Urban Turf published a version of this post on their site a few days ago.

Friday, September 23, 2011

MRIS August Sales Report: Zip Code 20910

And now, on to August. Today I analyze August's sales for zip code 20910 using data provided by MRIS and RBI. 20910 is home to Silver Spring, MD. It's roughly bordered by the District on the south, Sligo Creek on the east, I-495 on the north, and Rock Creek Park / Grubb Road on the west.


Twenty-five units sold in 20910 in August 2011. Key points in August's data:
  • Aggregate dollar volume was down 14.1% over the same month in 2010. Unit sales were 10.71% lower.  The average price for a home fell 3.79%, but the median price was up 5.22%. 
  • Twenty-one houses were sold for an average price of $479,137, down 3.46%. Four condos were sold for an average price of $215,000, down 28.16%.
  • Of the twenty-five homes sold, four were sold through a bank-mediated sale at a median price of $285,000.
  • For the past twelve months, the average monthly sales volume has been 14 detached houses, 2 townhouses, and 7 condos sold per month.
There were 85 active listings during August: 26 condos and 59 houses. More than half of the condos listed were priced $200-299K and more than half the houses were listed in the $400-600K price range.

According to MRIS, properties in 20910 sold for 95% of the listing price. At August's sales rate, there's a 6.5 months supply of condos and a 2.8 months supply of houses. Overall, homes are selling quickly in 20910 - the average days on market fell to 69 days, down almost 30% from August 2010. However, the condo market has tipped slightly in favor of buyers. Looking ahead, 24 homes went under contract in August and another 21 went under a contingent contract.

My good friends at Urban Turf published a version of this post on their site a few days ago.

Detailed Data for the Month
Average Sales Price
Dollar Volume
Transaction Volume
Monthly Data for the Past Year (by Housing Type)
Units Sold
Median Sales Price
Average Sales Price
Average Sales Price by Number of Bedrooms

Saturday, September 17, 2011

MRIS July Sales Report: Zip Code 22101

Today I analyze July's sales for zip code 22101 using data provided by MRIS and RBI. 22101 is bordered by the Potomac River, I-495, 267, and Kirby Road. We'd tell you it's home to the CIA, but we can't. But we can tell you it's home to McLean, VA.


Thirty-seven units sold in 22101 in July 2011. Key points in July's data:
  • Aggregate dollar volume was down 15.91% over the same month in 2010. Unit sales were 7.5% lower.  The average price for a home fell 9.09% and the median price was down 7.81%. 
  • No condos were sold. Thirty-seven houses were sold for an average price of $942,293, down 9.09%.
  • The houses sold in 22101 are large - 31 of 37 houses sold had 4 or more bedrooms. Those large houses experienced a 10.38% drop in average price in July 2011.
  • For the past twelve months, detached housing has dominated sales in 22101. The average monthly sales volume has been 26 detached houses, 3 townhouses, and 1 condo sold per month.
There were 165 active listings during July, 8 condos and 157 houses. The list prices for condos topped out at $2.5M, but half were in the $200-300K price range. Generally, house prices were in the $500K-infinity price range, with almost half in the $1-2.5M price range.

According to MRIS, properties in 22101 sold for 95.2% of the listing price, almost flat compared to 2010. At July's sales rate, there's a 4.24 months supply of houses and they're selling fast - average days on market fell by a third from July 2010 to 61 days. Looking ahead, 23 homes went under contract in July and another 30 went under a contingent contract.


My good friends at Urban Turf published a version of this post on their site a few days ago.

Detailed Data for the Month
Average Sales Price
Dollar Volume
Transaction Volume
Monthly Data for the Past Year (by Housing Type)
Units Sold
Median Sales Price
Average Sales Price
Average Sales Price by Number of Bedrooms

Friday, September 02, 2011

MRIS July Sales Report: Zip Code 20032

With this post, I'll have analyzed a month's sales for every DC zip code save for 20004, sort of a ring cycle for DCHousingPrices.com. To wrap up the first tour of DC, I analyze July's sales for zip code 20032 using data provided by MRIS and RBI. Forming the District's southeast tip, 20032 is bordered by the Potomac and Anacostia Rivers and the District/Maryland line. Bisected by I-295, it's home to Joint Base Anacostia-Bolling, a.k.a., Bolling AFB, and the Bellevue, Congress Heights, and Washington Highlands neighborhoods.


Five units sold in 20032 in July 2011. Key points in July's data:
  • Aggregate dollar volume was down 55.2% over the same month in 2010. Unit sales were 50% lower.  The average price for a home fell 10.4%, the median price was down 16.96%. 
  • Two homes were sold as bank-mediated sales at a median price of $51,600.
  • One condo sold for $41,000, up 64%.
  • Four houses were sold for an average price of $147,455, down 4.05%.
  • For the past twelve months, attached housing (rowhouses and/or townhouses) have dominated sales in 20032. The average monthly sales volume has been 2 detached houses, 7 attached houses, and 2 condos sold per month.
There were 77 active listings during July, 28 condos and 49 houses. The list prices for condos topped out at $300K. Almost all houses ranged from $50-300K, with 2 between $300-400K and another listed at $500-600K.

20032 was barely on the map as a portion of District sales in July. It represented 0.18% of July's dollar volume in the District. Its average price was 78.76% less than the District's and its median price was 73.03% lower. 20032's unit sales were 0.86% of all sales in the District in July. According to MRIS, properties in 20032 sold for 94.2% of the listing price, a 12.03% improvement from 2010. At July's sales rate, there's a 28 months supply of condos and a 12.25 months supply of houses. A buyer's market. Going forward, 22 homes went under contract in July and another 9 went under a contingent contract. 

My good friends at Urban Turf published a version of this post on their site a few days ago.

Detailed Data for the Month
Average Sales Price
Dollar Volume
Transaction Volume
Monthly Data for the Past Year (by Housing Type)
Units Sold
Median Sales Price
Average Sales Price
Average Sales Price by Number of Bedrooms

Sunday, August 28, 2011

MRIS July Sales Report: Zip Code 20024

I begin my analyses of July's sales by looking at zip code 20024 using data provided by MRIS and RBI. 20024 is roughly bordered by the Potomac and Anacostia Rivers, South Capitol St, and Independence Avenue. It's home to many of our nation's memorials and parks as well as the Southwest and Waterfront neighborhood. You can find the memorial to the Titanic here [did you know such a memorial was located in DC?] and Arena Stage.


Seventeen units sold in 20024 in July 2011. Key points in July's data:
  • Aggregate dollar volume was up 70.3% over the same month in 2010. Unit sales were 88.89% higher.  The average price for a home fell 8.44%, the median price was down 4.99%. 
  • No houses were sold during July.
  • No homes were sold as a bank-mediated sale.
  • The average price for condos was $302,641, up 5.33%.
  • Condo sales prices ranged from $50-500K, with one condo selling for $800K-1M.
  • For the past twelve months, condos have dominated sales in 20024, averaging 12 condos and 1 house sold per month.
There were 60 active listings during July, 56 condos and 4 houses. The list prices for condos ranged $100-600K, with more than half in the $200-400K price point. One condo was listed for $800K-1M.

20024 represented 1.48% of July's dollar volume in the District. Its average price was 49.05% less than the District's, its median price 41.69% lower. 20024's unit sales were 2.91% of all sales in the District in July. According to MRIS, properties in 20024 sold for 88.6% of the listing price. At July's sales rate, there's a 3.3 months supply of condos. A healthy market for sellers.

Zip code 20024 offers close proximity to many of the Federal government's offices and the waterfront lifestyle is appealing, too. A lot of development has been happening in the area thanks to the new-ish Nationals Park. But this probably isn't the area for you if you want a detached home. Otherwise, its affordable condo prices [relative to the District as a whole] make it an area worth considering when shopping for a condo.

My good friends at Urban Turf published a version of this post on their site a few days ago.

Detailed Data for the Month
Average Sales Price
Dollar Volume
Transaction Volume
Monthly Data for the Past Year (by Housing Type)
Units Sold
Median Sales Price
Average Sales Price
Average Sales Price by Number of Bedrooms

Friday, August 19, 2011

MRIS June Sales Report: Zip Code 20816

I wrap up my review of  June's closed sales by looking at zip code 20816 using data provided by MRIS and RBI. Bordered by the District line, the Potomac River, River Road, and Goldsboro Road, 20816 is home to the Glen Echo Heights and Glen Mar Park neighborhoods.


Twenty-nine units sold in 20816 in June 2011. Key points in June's data:
  • Aggregate dollar volume was down 30.13% over the same month in 2010. Unit sales were 23.68% lower.  The average price for a home fell 8.44%, the median price was down 4.99%. 
  • Houses accounted for 79.31% of units sold. All houses sold were detached houses.
  • No home was sold through a bank-mediated sale.
  • The average price for condos was $439,583 down 23.8%. The average price for a house was down 6.31%, to $938,676.
  • Condo sales prices ranged from $200-500K. Houses sold in the range $500K-2.5M; six houses sold for $1-2.5M, all having at least 4 bedrooms. 
  • More detached houses, 23, sold in June than during any of the previous 12 months. The median monthly sales rate for 20816 is 13 detached houses.
There were 57 active listings during June, 10 condos and 47 houses. The list prices for condos ranged $200-500K, with the median somewhere in the $300-399K price point. Of the 47 houses listed, 7 were priced $600-800K, the remainder ranged upwards to more than $5M; most were in the $800K-2.5M price range.

According to MRIS, properties in 20816 sold for 97.7% of the listing price. At June's sales rate, there's less than 2 months supply of condos and a 2 months supply of houses. A seller's market. As if to emphasize that point, the average days on market was 57 days in June, a 20% drop from the prior year.

Just as I said last week about 22207, zip code 20816 is a good area for those who want a detached house, but its high average sales price may be greater than many can accommodate. With the low inventories buyers should be prepared to move quickly if they find a house they like.

My good friends at Urban Turf published a version of this post on their site a few days ago.

Detailed Data for the Month
Average Sales Price
Dollar Volume
Transaction Volume
Monthly Data for the Past Year (by Housing Type)
Units Sold
Median Sales Price
Average Sales Price
Average Sales Price by Number of Bedrooms

Friday, August 12, 2011

MRIS June Sales Report: Zip Code 22207

This week I look at June's closed sales for zip code 22207 using data provided by MRIS and RBI. Roughly squeezed in between the Potomac River and I-66, 22207 is above and adjacent to zip code 22201, which I analyzed a few weeks ago.  It's home to the Old Glebe, Bellevue Forest, Yorktown, and Cherrydale neighborhoods.


Fifty-three units sold in 22207 in June 2011. Key points in June's data:
  • Aggregate dollar volume was down 8.66% over the same month in 2010. Unit sales were 5.36% lower.  The average price for a home fell 3.49%, the median price was up 3.87%. 
  • Houses accounted for 96.23% of units sold.
  • No home was sold through a bank-mediated sale.
  • The average price for condos was $310,000, up 31.91%. The average price for a house was down 2.39%, to $868,362.
  • Condo sales prices ranged from $200-400K. All but six houses sold in the range $600K-2.5M. Sixteen houses sold for $1-2.5M, all but one having at least 4 bedrooms. 
  • More detached houses, 48, sold in June than during any of the previous 12 months. The median monthly sales rate for 22207 is 30 detached houses.
There were 134 active listings during June, 14 condos and 120 houses. The listed prices for condos range $150-600K, with the median somewhere in the $200-299K price point. Of the 120 houses listed, only 16 were priced below $600K and 55 were priced between $1-5M.

Last June's market was the most active June since June 2007. In addition to the 53 contracts that closed, 31 homes went under contract and another 40 homes went under contingent contracts. According to MRIS, properties in 22207 sold for 96.6% of the listing price. At June's sales rate and assuming the S&P downgrade of US sovereign debt has zero effect on the real estate market, there's a 7 months supply of condos and a 2.35 months supply of houses.  

The data show that zip code 22207 is a good area for those who want a detached house, but its high average sales price may be greater than many can accommodate. And as with many other zip codes I've looked at over the past few months, given the low inventories buyers should be prepared to move quickly if they find a house they like.

My good friends at Urban Turf published a version of this post on their site a few days ago.

Detailed Data for the Month
Average Sales Price
Dollar Volume
Transaction Volume
Monthly Data for the Past Year (by Housing Type)
Units Sold
Median Sales Price
Average Sales Price
Average Sales Price by Number of Bedrooms

Thursday, August 04, 2011

MRIS June Sales Report: Zip Code 20037

I begin August with June's closed sales for zip code 20037 using data provided by MRIS and RBI. 20037 is home to the West End and Foggy Bottom neighborhoods. You'll also find the Kennedy Center and the Watergate there. And at the corner of Rock Creek Parkway and Virginia Avenue NW, you can buy the most expensive gasoline in Washington, DC.


Twenty-three units sold in 20037 in June 2011. Key points in June's data:
  • Aggregate dollar volume was up 73.22% over the same month in 2010. Unit sales were 21.05% higher.  The average price for a home was up a whopping 43.1% and the median price was a more moderate 16.11% higher. 
  • Condos accounted for 92.08% of units sold. Condos rule!
  • The number of condos and houses sold was about the same as June 2010.
  • One unit was sold through a bank-mediated short sale for $455,000.
  • The average price for condos was $796,655, up 46.11%. Houses were up, although not as spectacularly, up 6.66%.
  • Condo sales prices ranged from $150K-5M. The two houses sold in the range $600-799K.
Let's not get too excited thinking that the condo market is making a tremendous rebound. Six of 21 condos sold for more than $1MM, including one that sold for between $2.5-5M. Obviously, these sales skewed all the average pricing metrics. Even so, a 16.11% bump in the median price isn't something to sneeze at. For those looking to buy a condo, the average price during the past twelve months for a studio has been $184,023, for a one bedroom unit $407,304, and for a two bedroom unit $932,172.

There were 146 active listings during June, 142 condos and 4 houses (did I mention condos rule here?). The listed prices for condos range $150K-5M, with the median somewhere in the $500-599K price point. Two of the four houses were listed for $600-800K and two were listed for $1-2.5M. During June, 12 homes went under contract and another 13 went under contingent contracts. According to MRIS, properties in 20037 sold for 93.8% of the listing price. At June's sales rate, there's 6.76 months supply of condos and a 2 months supply of houses. 

As a percentage of the District's June sales:
  • 20037's dollar volume was 4.78% of the District's June dollar volume. 
  • Its average price was 37.79% higher than the District average and its median price was 26.78% higher. 
  • Its unit sales were 3.47% of all units sold.
The data show that zip code 20037 is not a high volume zip code; during the past twelve months it's averaged 16 house and condo sales per month, wit the distribution of sales leaning heavily towards condos. The supply of many condos for sale at such a broad price range means there's probably something for anyone who wants a condo near the Kennedy Center, the State Department, or the bar at the Ritz-Carlton. 

My good friends at Urban Turf published a version of this post on their site a few days ago.

Detailed Data for the Month
Average Sales Price
Dollar Volume
Transaction Volume
Monthly Data for the Past Year (by Housing Type)
Units Sold
Median Sales Price
Average Sales Price
Average Sales Price by Number of Bedrooms