Market Watch 20912: Takoma Park

• April 4th 2011

by Keith Gibbons

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Housing Market Watch is a weekly feature on UrbanTurf in which Keith Gibbons, the brains behind DCHousingPrices.com analyzes recent MRIS statistics for a specific DC area zip code to help paint a picture of the housing market in that area.

In Housing Market Watch this week, UrbanTurf analyzes sales statistics for the 20912 zip code, which is made up almost entirely of the Maryland neighborhood of Takoma Park.

Eight units sold in zip code 20912 in February 2011 and here is a chart providing a year-over-year comparison of sales volume, median price and average price:

• Compared to February 2010, aggregate dollar volume was up 16.64 percent. The average sales price increased by 2.06 percent and the median sales price rose 18.65 percent.
• Two condos and six homes sold in February, about the same proportion as last February. The average price for a home fell 2.88 percent, but for condos, the average price rose 17.35 percent.
• The most expensive home sold in 20912 closed for between $600,000 to $799,000. The two condos sold in February went for less than $200,000.
• The data for the 20912 zip code from 2008 to 2011 indicate that about 6 to 8 homes sell each February in Takoma Park.

At February’s sales pace, there is a year’s supply of condos and a 6.88-month’s supply for single-family homes listed in 20912, both signs of a market where there’s room for price negotiation; in February, homes sold for about 95.7 percent of list price in 20912. Of the 67 active listings last month, about half (27 homes and 7 condos) were listed for between $200,000 to $500,000. These price points make 20912 an attractive area for home buyers to explore this spring.

Below are charts that provide more detailed statistics of the market in 20912.

Next Week: A look at the housing market in 20020, a DC zip code which includes portions of the Anacostia, Hillcrest and Congress Heights neighborhoods.

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• Market Watch 22314: Old Town, Carlyle and Taylor Run in Alexandria
• Housing Market Watch: 20015
• Housing Market Watch: 20002
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• Housing Market Watch: 20009

This article is based on custom data from MRIS, a developer of real estate technology and information as well as the largest multiple listing service (MLS) in the United States.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/market_watch_20912_takoma_park/3263.