Washington DC Real Estate Report (Zip Code 20008)
| Washington DC Real Estate Sales Report (20008 Zip Code) |
A look into the Washington DC area real estate market through examining micro-markets. This market report centers on data from the NW Washington DC 20008 zip code in January 2007 and January 2008. This affluent area includes a variety of different sub-divisions. Some of the more recognized include Kalorama, Forest Hills, Woodley Park, and portions of both Cleveland Park and Dupont Circle. Here's a review and breakdown:
Washington DC Single Family Homes (Zip Code 20008)
| January 2007 | January 2008 | |
| Number of Homes Sold |
8 | 8 |
| Total Sold Dollar Volume |
$10,338,400 |
$11,417,999 |
| Average Sold Price* |
$1,292,300 |
$1,427,250 |
| Average Days on Market* |
56 | 82 |
| Ave. Sales Price as a % of Ave List Price* | 95% | 94% |
| Number Sold over $1 M |
3 | 5** |
| Number Sold over $2 M |
1 | 2 |
* rounded to nearest whole number
Washington DC Homes (Zip Code 20008) Analysis
Corroborating previous reports that the Washington DC area market is still dynamic and holding value, the highly coveted 20008 area showed higher sales volume than 2007. Another common thread is longer “days on market” -- but, again, the “average sales price as a % of average list price” shows that extra days on market doesn’t always translate to large price reductions. Today, sellers just need a little extra patience and a strong, consistent marketing program.
**although not a large confounding factor in this specific study, it’s important to note that leaps in “avergage sold price” and “total sold dollar volume” in 2008 are, in part, due to more million dollar properties sold in this time-frame.
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