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

Friday, May 20, 2011

MRIS April 2011 Sales Report: Zip Code 20814

In this post I look at contracts closed in April 2011 in zip code 20814 using data released by MRIS. You'll find Bethesda and NIH in this zip code. And since the Apple store is located in 20814 on Bethesda Avenue, it's the nexus of the universe.
Summary of Sales in Zip Code 20814 in April 2011
 Thirty units sold in zip code 20814 in April 2011. Key points in April's data:
  • Compared to the same month in 2010, aggregate dollar volume was up 20.86%. Although unit sales fell 16.67%, the average sales price rose 45.03%; the median sales price was 2.62% lower.
  • The average price for a condo fell 20.67%. The average price for a house was 37.25% higher, probably thanks to the fact that 6 of 20 houses sold for more than $1MM.
  • The 10 condos sold for prices between $150-600K, the 20 houses sold in the range $300K-5MM.
  • Unit sales for condos were down 50%, but up 25% for houses. 
  • The number of homes listed, 114, was about the same as April 2010.
At April's sales rate there's a 5.9 months supply of condos and 2.75 months for houses. About half of the condos listed in 20814 are in the $150-300K price range. More than half of the houses were listed  at prices exceeding $1MM. According to MRIS, properties in 20814 sold for 93.8% of the listing price. Based on sales in 20814 for each of the past 11 months [excluding April 2011], the average sales price for a condo was $370,951, for a house it was $934,459.

Given its relatively low entry prices, zip code 20814 should be an attractive area for those who're looking for a condo. With an inventory of almost 6 months, the condo market is close to equilibrium. The market's much more tilted towards those selling houses and with an average price greater than $900K, it will be a bigger lift for buyers.

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

Detailed Data for the Month
Average Sales Price
Average Sales Price in Zip Code 20814 in April 2011
Dollar Volume
Dollar Volume in Zip Code 20814 in April 2011
Transaction Volume
Unit Sales Volume in Zip Code 20814 in April 2011
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, May 13, 2011

MRIS March 2011 Sales Report: Zip Code 20016

In this post I look at contracts closed in March 2011 in zip code 20016 using data released by MRIS. 20016 is roughly bounded by Western Avenue NW on the northwest, the Potomac on the southwest, Reno Rd/37th St/34th St NW on the east, and Garfield St NW/Battery Kemble Park on the south. It's home [so to speak] to AU Park, McLean Gardens, Spring Valley, Cathedral Heights, Tenleytown, and North Cleveland Park neighborhoods. If you've shopped at Best Buy on Wisconsin Avenue NW or made a visit to Sibley Memorial Hospital, you've been to 20016.

March 2011 Sales Summary for 20016
Thirty-one units sold in zip code 20016 in March 2011. Key points in March's data:
  • Compared to the same month in 2010, aggregate dollar volume was down 6.72%. Despite a 13.89% drop in unit sales, the average sales price rose 8.33% and the median sales price was up 6.4%.
  • The average price for a condo fell 5.64%. The average price for a house was 17.6% higher.
  • The 17 condos sold for prices between $200K-1MM, the 14 houses sold in the range $600-5MM.
  • Unit sales for condos and houses fell by more than 10% each, down 10.53% for condos and down 17.65% for homes. 
Zip code 20016's dollar volume in March 2011 was 9.34% of the District's total that month. Its average sales price was 66.57% higher than that of the District as a whole; the median sales price, 75.23% higher. The zip code's 31 units were 5.61% of all units sold in the District.

At March's sales rate there's a 4.8 months supply of houses and condos listed in 20016, breaking down to a 5.3 months supply of condos and 4.3 months for houses. Either way, a good market for sellers even though the number of homes listed rose almost 30% from March 2010. According to MRIS, properties in 20016 sold for 95% of the listing price.

The entry price for a house in zip code 20016 is about double that for a condo, but there are buying opportunities for buyers of either property type. More than half the condos listed were in the $200-400K price range while 60% of houses listed start at $1MM or more, making condos an easier lift for most buyers.

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

Detailed Data for the Month
Average Sales Price
March 2011 average sales price for 20016
Dollar Volume
March 2011 dollar volume for 20016
Transaction Volume
March 2011 unit sales for 20016

Friday, May 06, 2011

MRIS March 2011 Sales Report: Zip Code 22209

In this post I look at contracts closed in March 2011 in zip code 22209 using data released by MRIS. Situated just above Arlington National Cemetery, 22209 is home to the Rosslyn, North Rosslyn, and Fort Myer Heights neighborhoods in Arlington, VA.


Twenty-six units sold in zip code 22209 in March 2011. Key points in March's data:
  • Aggregate dollar volume was essentially flat compared to the same month in 2010, up 0.2%. The average sales price was down 7.51% and the median sales price fell 15.83%.
  • The average price for a condo was down 4.12%. The average home price rose a mere 1.92%.
  • Twenty-three condos sold for prices between $300K-2.5MM, one condo sold for $100-150K. The two homes sold for $1-2.5MM.
At March's sales rate there's a 2.8 months supply of homes and condos listed in 22209. The price ranges for the listed condos run the gamut of $100K-5MM, the one home that was listed was priced under $500K. March 2011 was the strongest sales month for March since March 2007, up 26%, and it recorded the largest number of condos sold in any month during the past year. Homes sold for 94.7% of list price, indicating there is room for price negotiation despite the appearance of a seller's market.

Condos dominate sales in zip code 22209, which may not be too surprising when one looks at Rosslyn's skyline; 86% of all units sold in the past year were condos. Although the condo market shows decent breadth in terms of price range, selection for any particular price point is limited, which may make it challenging for those who wish to buy in the area.     

My good friends at Urban Turf published a version of this post 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