AU Park/Tenley, DC 20016 Market Report, May 2010

said on June 26th, 2010 filed under: District of Columbia, State of the Market

In May of 2010 there were 39 homes that closed within the month for zip code 20016 in the District of Columbia (AU Park/Tenley/ Palisades). This was an increase of 12 units, as there were 27 homes that closed in May of 2009.

The average list price for homes that closed in May of 2009 was $1,117,014
The average list price for homes that closed in May of 2010 was $839,547

The average sale price for the homes that closed in May 2009 was $959,270
The average sale price for the homes that closed in May 2010 was $792,726

The average Days on Market for homes that closed in May 2009 was 101 days.
The average Days on Market for homes that closed in May 2010 was 80 days.

36 homes went under contract in 20016 DC in the month of May 2010. The average list price of homes that went under contract was $$1,062,687. The average Days on Market for these 20016 DC homes was 22 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 average sales price increased from April to May by $43,162 – roughly 5%. However, it’s down from May 2009 by $46,821 (again, roughly 5%). Days on market have remained somewhat steady, dropping from 90 to 80 days in May 2010. That said, homes that went under contract in May did so pretty quickly: 22 days. That’s a big improvement over 80 days. As I predicted that May would improve over April (average sales price), my guess is that June will top May. You heard it here first!

posted by Marcie Sandalow

This entry was posted on Saturday, June 26th, 2010 at 9:51 am 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.