How D.C. region’s housing market fared in 2021 by zip code

A shortage of houses mixed with growing wealth has been fueling housing costs within the Washington area for the previous couple years. In 2021, each jurisdiction – the District, Maryland and Virginia – noticed costs transfer considerably larger. Dwelling gross sales picked up a bit however remained constrained by low stock.

Utilizing knowledge from Black Knight, a mortgage and actual property expertise and knowledge supplier, we mapped gross sales of single-family homes within the area’s 326 Zip codes. Condominium gross sales had been separated out of the info as a result of they have a tendency to pull down median sale value. Zip codes with lower than 10 single-family home gross sales additionally weren’t included.

Under, discover three housing indicators – value, gross sales and alter in value – for every Zip code.

Median gross sales value 2021

Median value is just not the identical as common value. When taking a look at all of the houses offered in a Zip code, the median value represents the midpoint — which means that half the houses offered for above the value and half offered beneath it.

Though costs can and do range from neighborhood to neighborhood, understanding a Zip code’s median value offers you some sense of what houses price in that space.

Change in median value 2020-2021

The change in median value in a Zip code from 2020 to 2021 is proven. Though costs can and do range from neighborhood to neighborhood, understanding the change in median value signifies whether or not costs are rising or falling in that Zip code.

For areas that noticed a big lower in median sale value, stock may have performed a task. The few homes that had been offered could haven’t been consultant of the realm as a complete.

Change in gross sales quantity 2020-2021

The variety of gross sales in a specific Zip code will be deceiving. Due to their density, some Zip codes can have a higher variety of gross sales than others.

However by wanting on the proportion change in gross sales from one 12 months to the subsequent, it offers a sign of how lively or sluggish the housing market is in that exact space.