Friday, April 08, 2011

MRIS February 2011 Sales Report: Zip Code 20912

In this post I look at contracts closed in February 2011 in zip code 20912 using data released by MRIS. The zip code is home to Takoma Park, MD.

Eight units sold in zip code 20912 in February 2011. Key points in February's data:
  • Compared to the same month in 2010, aggregate dollar volume was up 16.64%. The average sales price increased  by 2.06% and the median sales price rose 18.65%.
  • Two condos and 6 homes sold in February, about the same proportion as last February. The average price for a home fell 2.88%; condos rose 17.35%. Dollar volume for homes grew 16.55% and increased 17.35% for condos. 
  • The most expensive home sold in 20912 closed at $600-799K; the least expensive home sold for $150-199K. The two condos sold in February went for less than $200K.
  • The data for 2008-2011 indicate that about 6-8 homes sell in February.
At February's sales rate there's about a 12 months supply of condos and 6.88 months supply for houses listed in 20912, both of which are signs of a market where there's room for pricing negotiation; in fact, in February homes sold for about 95.7% of list price. Generally speaking, February's total sales activity (closed and new contracts) was the lowest since 2008 although it was better than February 2007.

Of the 67 homes with active listings in February, about half (27 houses and 7 condos) were listed between $200-500K. These price points make 20912 an attractive area for home buyers to explore this spring.

I wrote this sales analysis for my good friends at Urban Turf, who published a version a few days ago on their site.

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

1 comment:

LawrenceHomesForSale said...

You might like this graph of home prices in DC compared to other locations in the US. You can change the information on the form and generate custom graphs for any home or area.