Housing Market Watch: 20003

• February 14th 2011

by Keith Gibbons

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UrbanTurf is proud to welcome a new contributor to the site this week — Keith Gibbons. Some readers may recognize Keith’s name as he is the brains behind DCHousingPrices.com. Every other week, Keith will be analyzing recent MRIS statistics for a DC zip code to help paint a picture of the housing market in that area.

In Housing Market Watch this week, UrbanTurf analyzes recently-released home sales statistics for the 20003 zip code. Roughly speaking, that zip code is bordered on the north by East Capitol Street, on the west by South Capitol Street, and to the south and east by the Anacostia River. It includes portions of Capitol Hill, Hill East, and the Navy Yard neighborhoods.

Only 18 units sold in 20003 in January, so the data set is not very statistically significant. However, here is a chart providing a year-over-year comparison of sales volume, median price and average price:

• Year over year, aggregate dollar volume fell 25.72 percent and the number of units sold dropped 35.71 percent.
• Despite the dearth of sales, average prices were up. Condo prices increased 40.17 percent and home prices were up 5.84 percent (more details below). No condo sold for more than $800,000 and no home sold for over $1 million.
• Condo sales volume was down 55.56 percent. Home sales volume was down 26.32 percent.

20003 represented 4.72 percent of total unit sales in the District in January. However, in comparison to the rest of the city, the median price of homes sold in the zip code was 29.71 percent higher. At January’s sales pace (a typically slow month for home sales) there is a 10.75 months supply of condos in 20003 and a 4.71 months supply for houses. The latter stat is great if you’re trying to sell a house, but makes for slim pickings if you are trying to buy one.

Below are charts that provide more detailed statistics of the market in 20003.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/housing_market_watch_20003/2990.