Median Sale Prices in the Greater DC Area - Top 10 ZIP Codes in 1st Quarter

Posted on April 18, 2012 by Corey Hart
18

Apr

2012

Part II of our deep-dive into ZIP Code data for the 1st quarter of 2012 for the Greater DC Area looks at leading ZIP codes according to Median Sale Price trends, including:

  • Most Expensive ZIP Codes by median sale price
  • ZIP Codes with Biggest Jump in median sale price (YoY)
  • Most Affordable ZIP Codes by median sale price
  • ZIP Codes with Biggest Dip in median sale price (YoY)

 

(Obligatory RBI product plug: Because of the lower volume of sales at most ZIP code levels, Quarterly and Year-to-Date reports can be especially informative at this lower granularity level. RBI introduced new quarterly reports in February for RBI subscribers - we've included a few examples toward the end of this analysis. Sign up today to access these must-have reports for your area!)

Method: We included all ZIP Codes that had at least 30+ sales in both Q1-2011 and Q1-2012 from these areas: Alexandria City, Arlington, Fairfax, Fairfax City, Falls Church City, Loudoun, Manassas Park City, Manassas City, Montgomery, Prince George's, Prince William and Washington, DC.  Out of all possible ZIP Codes in this region, 131 had 30 or more sales in the first quarter of both 2011 and 2012. Our Top 10 ZIP Code lists were pulled from this subset. (click here to see Part I, which focused on $/SqFt trends)

Here are the results...

Nuggets:

  • The sole newcomer to the list was 20015-Friendship/ChevyChase. In Q1-2011, this ZIP was ranked #24 in the category at 475K.
  • FairfaxMost Expensive: 22066/Great Falls ($895K). Most Affordable: 22041/Falls Church ($218K)
  • Montgomery - Most Expensive: 20854/Potomac ($759K). Most Affordable: 20906/Silver Spring ($192K)
  • DC - Most Expensive: 20007/Georgetown ($865K). Most Affordable: 20020/Anacostia ($156K)
  • Loudoun - Most Expensive: 20148/Ashburn ($440K). Most Affordable: 20164/Sterling ($273K)
  • Prince George's - Most Expensive: 20720/Bowie ($270K). Most Affordable: 20743/Capitol Heights ($72K)

 

Nuggets:

  • 77 of 131 ZIP Codes (59%) had a year-over-year increase in median sale price in Q1-2012.
  • The average increase across the 131 ZIP codes with 30+ sales in Q1 was +3.6%.
  • Fairfax: 25 of 36 ZIPs (69%) increased. Top: 22181/Herndon (+34.5%). Bottom: 22066/Great Falls (-19.6%)
  • Montgomery: 9 of 22 ZIPs (41%) increased. Top: 20877/Gaithersburg (+25.7%). Bottom: 20876/Germantown (-19.8%)
  • DC: 10 of 16 ZIPs (63%) increased. Top: 20015/Friendship (+67.6%). Bottom: 20037/West End (-21.4%)
  • Loudoun: 5 of 9 ZIPs (56%) increased. Top: 20176/Leesburg (+9.6%). Bottom: 20105/Aldie (-15.3%)
  • Prince George's: 10 of 23 ZIPs (43%) increased. Top: 20737/Riverdale (+35.6%). Bottom: 20745/Oxon Hill (-28.6%)

Nuggets:

  • The 7th most affordable ZIP code (20737/Riverdale) experienced the 3rd highest year-over-year increase in median sale price.
  • The most affordable Virginia ZIP code was 20109/Manassas at $170k. This ZIP also happened to have the highest Sales Price to Original List Price ratio of the entire set of ZIP codes (98.1%).
  • While 22066/Great Falls graced the top spot on the median sale price list, it also had the 7th largest year-over-year decline at -19.6%.

 

DC Metro Area, market analysis, median sale price, quarterly reports
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