Saturday, May 28, 2011

MRIS April 2011 Sales Report: Zip Code 20036

In this post I look at contracts closed in April 2011 in zip code 20036 using data released by MRIS. This zip code is roughly bounded by Q Street NW on the north, 16th Street NW on the east, 21st Street NW on the west, and L Street NW on the south [with a touch of K Street NW thrown in]. Dupont Circle - the circle itself - is in 20036.

Ten units sold in zip code 20036 in April 2011. Key points in April's data:
  • Ten condos were sold, no houses were sold. During the past 12 months, most of the units sold in 20036 had 2 or fewer bedrooms.
  • Aggregate dollar volume was little changed from the same month in 2010,  up a mere 0.98%. Unit sales were about the same, too, 10 units sold in April 2011 compared to 11 in April 2010. 
  • The average sales price rose 11.08%, but the median sales price fell 11.13%.
  • Nine condos sold at prices between $200-500K, the 10th sold for $600-800K. 
Zip code 20036 represented 1.23 of April's dollar volume. The zip code's average price was 34.16% lower than the District's average and its median was 23.82% less. The 10 condos represented 1.87% of all units sold in April.

At April's sales rate there's a 3.3 months supply of condos; 7 houses were listed in April. All condos listed in 20036 are priced between $150-500K. The houses were listed between $800K-5MM. According to MRIS, properties in 20036 sold for 94.3% of the listing price.

With its central location, zip code 20036 should be an attractive area for those who're looking for a condo. Condo buyers should be prepared to move quickly due to its low inventory. Those looking for a house may be able to 'shop' at their leisure, but will have fewer choices.

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)
Median Sales Price
Average Sales Price
Average Sales Price by Number of Bedrooms

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