In this post, I look at January sales recorded for DC zip code 20009 using data released by MRIS. That zip code is roughly bordered by Q St NW on the south, Connecticut Ave NW on the west, 11th Street NW on the east, and Irving Street NW on the north. The Dupont Circle [excluding Dupont Circle itself], Columbia Heights, and Adams Morgan neighborhoods are encompassed within those borders.
Forty-two units sold in zip code 20009 in January 2011. Key points in January's data:
- YoY, aggregate dollar volume rose 71.01% and the number of units sold was 68% greater. However, aggregate average sales price was almost flat, up a mere 1.79%.
- Condos made the market in 20009. In January, they accounted for ~75% of units sold and ~65% of the dollar volume. And yet their average price fell 6.52% YoY.
- YoY, condo dollar volume was up 57.43%, unit volume was up 68.42%. Given that their average price fell, it appears to be a case of more units selling for lower prices.
- January was a good month for homes. YoY, dollar volume doubled, up 102.89%. Unit sales rose 66.67% and the average price rose 21.74%.
- No condo sold for more than $1MM and one home sold for $1MM-2.49MM.
At January's sales rate there's a 3.97 months supply of condos and 2.8 months supply for houses listed in 20009. In other words, a tight market good for sellers.
Average Sales Price