Tuesday, May 29, 2007

DC Sales: February 2007 YoY Changes [Updated]

I always say you can never do enough analysis. In that spirit, after having posted sales recorded in the District in February 2007, I wondered what the YoY changes for each zip code by category of housing would be. The results of my insomnia are displayed below.

Change YoY by Housing Category

I've taken sales recorded by the District in February 2007 and compared the average and median sales price and sales volume for each zip code by housing category to those of February 2006.

Aggregate Data

Basically, 156 more units were sold YoY in February 2007. To understand the table, let's look at zip code 20003. Eight more units sold YoY while average and median prices declined YoY.

By Zip Code by Housing Category

Out of 22 zip codes, the data show that YoY:

  • Condos: Condos sold in all zip codes. Average prices declined in 10, 14 had lower median prices, and only 6 experienced lower sales volume. Sales are higher while prices are lowering.
  • Rowhouses: Sales in 16 zip codes. Average prices fell in 9, median fell in 11, and sales volume dropped in 6.
  • SFH: Sales in 13 zip codes. Higher average prices in 9, higher median prices in 8, and higher sales volume in 4.
  • Semi-detached: 14 zip codes had sales. Higher average and median prices and sales volume in 9, 8, and 8. Interesting to see the price changes when the sales volume is the same YoY.
  • Multi-family: Of 15 zip codes that had sales, higher average prices in 10, lower median prices in 5, and lower sales volume in 5.

Change YoY by Ward

How're prices doing in the wards? The data show that except for Wards 1 and 5, average prices are up in all wards. However, half the wards (Wards 1, 2, 5, and 8) have lower median prices YoY. Wards 1 and 5 are seeing lower prices on higher sales volume (12.5% and 23.33%, respectively); Ward 8's median sales price fell although sales volume was up almost 70%.

Sales volume is higher in all wards save Ward 3, which experienced a very minor downtick. Ward 4's sales volume almost doubled in the year; interestingly, that ward's average price rose a modest 4.52% while its median sales price rocketed 15.32%, the highest of the wards.


Anonymous said...

This is perhaps the best real estate blog that I have ever seen. Rather than relying on speculation, you post actual NUMBERS!!! The type of numbers that really feed into all of the debate found elsewhere. My only request would be the following: could you write a summation describing what all of your data suggest is actually happening in the DC real estate market? You have lots of numbers and some analysis, but what might be nice (and would really spur discussion) would be some actual conclusions about what those data show. (I know that you do this to some extent, but gather it in one post titled, for example, "Whither the DC real estate market in the first quarter of 2007" with a few key bullet points that indicate what you've found.)

But all in all, this is one of the greatest blogs that I've ever seen. I can't tell you how much I appreciate the work that you put into it.

Keith said...

Thank you very much for your comment. I'm happy you find this site useful.

You raise a good point: where is the DC market going? I've been mulling this over during the past few days, reconciling DC data with that from other parts of the country. I'll take your suggestion and compile my thoughts into a future post.

Thanks again.