AU Park/Tenley, DC 20016 Market Report April 2010

said on May 31st, 2010 filed under: District of Columbia, State of the Market

In April of 2010 there were an astonishing 52 homes that closed within the month for zip code 20016 in the District of Columbia (AU Park/Tenley/ Palisades). This was an increase of 27 units, as there were 25 homes that closed in April of 2009.

The average list price for homes that closed in April of 2009 was $879,916
The average list price for homes that closed in April of 2010 was $790,340

The average sale price for the homes that closed in April 2009 was $780,940
The average sale price for the homes that closed in April 2010 was $749,940

The average Days on Market for homes that closed in April 2009 was 55 days.
The average Days on Market for homes that closed in April 2010 was 90 days.

36 homes went under contract in 20016 DC in the month of April 2010. The average list price of homes that went under contract was $$1,013,533. The average Days on Market for these 20016 DC homes was 71.5 days.

January – December 2008 & 2009 Market Statistics for 20016 DC

In 20016 DC for the period of January to December 2008 there were 408 properties sold.
In 20016 DC for the period of January to December 2009 there were 419 properties sold.

In 20016 DC for the period of January to December 2008 the average list price was $892,975, the average sales price was $814,681 and the average Days on Market was 61.5 days.

In 20016 DC for the period of January to December 2009 the average list price was $894,284, the average sales price was $843,916 and the average Days on Market was 76 days.

So, what does all of this mean?

The nice thing about 20016 is the similarity between the number of homes sold in the last several years… roughly 410 units in both 2008 & 2009. This allows for an truer read on recent trends. List prices declined by about $90K from April 2009 to 2010, while the gap in actual sales prices was down only $30K. And while list prices for 2008 & 2009 were roughly the same, 2009 showed a decent improvement over 2008 with the average sales price at $843,916 (up from $814,681 in 2008). Days on market were almost cut in half for April 2010, down from 90.7 days in 2009 to 55 in 2010. Activity in April 2010 more than doubled from the year before with 52 units sold. And while the average sales price for April 2010 is on the low side ($749,564), that will likely improve come May/June given the average list price for properties under contract that same April ($1,013,533).

posted by Marcie Sandalow

This entry was posted on Monday, May 31st, 2010 at 10:22 pm and is filed under District of Columbia, State of the Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.