Market Report - 20024 - Washington, DC SW (DC United) - 2015 04

By
Real Estate Agent with Real Living | At Home DC / MD / VA
https://activerain.com/droplet/4DGT

DC United StadiumBuzzard Point is a neigborhood in the SW quadrant of Washington, DC.  This is the smallest quandrant and currently much in focus, with the amount of waterfront development work going on.

One of the new projects is the new soccer stadium which is planned for DC United, though not on the waterfront.

This view shows the stadium in the foreground, the Anacostia River to the right, Washington Nationals Park midway up on the right, and the US Capitol at the top left.

 

 

In a nutshell, 17 homes were sold in April 2015,while the average for the prior 5 years is 16, refreshingly this isn't as far from "normal" as many other statistics.

Currently 21 homes are on the market, whereas the April average for the prior 5 years is 38, which I'd  think will convince buyers of a low supply.

With this ratio, we are at 1.1 Months of Supply, which dose support my sense of troubling; we'd prefer to see a number closer to the prior 5 year average of  2.6, which itself isn't very high, but still higher than many abutting neighborhoods.

 

This month's activity shows us a $297,000 Sold price, the prior five years average being $272,688, sluw upward growth.

All all indicators would sugges, the market is brisk with the average home being sold in 7 days, 5 year average being 39 which is rather high for a 5 year average for this intown DC neighborhood.

While the ratio of sold price to original list price is 99.8%, the average for the prior 5 years was 98.1%. You'll note the other two neighborhoods to the north and east are both at 100%, and so, if I am trying to find any silver lining, this is it.

In summary, many of these numbers can be seen as a very aggressive market,  but this is a small neighborhood, and surely not the most aggressive market in Washington, DC.  Stay tuned, this is going to get very competitive in the next few years because of all the growth and construction coming in.

(data from getsmartcharts; photo from DC United)

Posted by

Claude Labbe, Realty for Your Busy Life

Real Living | At Home
11 Dupont Circle #650
Washington, DC 20036
(202) 518-8781 bus / (703) 868-7774 mobile
claude@labbe.com

 

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District of Columbia District of Columbia County Washington
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Tags:
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Rainmaker
1,940,134
Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

      Hi, What an opportunity for buyers in your area.    Thanks for sharing with us in  AR Land.

May 31, 2015 04:38 AM #1
Ambassador
2,869,173
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

You're market reports are great, and always so interesting to me to have that little inventory.  I simply wouldn't know how to behave in a market like that.  We've had stable market of 6 months worth, but honestly we've rarely ever had less.

I forget about the river in D.C. and the possibility things could be waterfront.

May 31, 2015 07:26 AM #2
Rainmaker
604,182
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

Ronald DiLalla Let me add, Sellers are quite happy with the current market.

Tammy Lankford The waterfront is typically fronting on the Potomac, but DC has another river, the Anacostia, which I'd expect will see lots of development within the next 5-10 years. 

Since you're on the lake with boats, I'll also tell you we have water taxis (ie, boats which do the Georgetown-Navy Yard-Alexandria circuit).

May 31, 2015 10:02 AM #3
Rainmaker
3,248,015
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Claude

The market update for zip code 20024 in Washington DC shows an active 2015 real estate market.

Good luck and success.

Lou Ludwig

May 31, 2015 10:26 AM #4
Rainmaker
604,182
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

Lou Ludwig This particular part of town will be creating buzz; soon you'll likely see shots of this neighborhood in newscasts or other panoramic-in-Washington tv screens.

May 31, 2015 10:39 AM #5
Rainmaker
2,704,856
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Hello Claude,

Great real estate market report for the Washington DC SW area.  With only a 1.1 month supply of available homes, buyers must be very frustrated!

May 31, 2015 11:49 AM #6
Rainmaker
604,182
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

Lisa Von Domek Buyers are frustrated, as are Buyer Agents. I hope you're still safe and dry in Dallas.

May 31, 2015 12:16 PM #7
Rainmaker
4,106,539
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Claude, your market reports have an easy to read format, and nice to see how your area is doing.  

Jul 16, 2015 10:08 PM #8
Rainmaker
604,182
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

Joan Cox and I've got to do this months which I'm 2 weeks late with. Stay tuned, though I am expecting it to slow down.  I'd think you want to say the same, though I doubt you can.

Jul 22, 2015 12:13 PM #9
Rainmaker
4,106,539
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Claude, you are right, I did have a small lull, about a week.  Got 2 UC so far this week, and just wrote another tonight.   :-)

Jul 22, 2015 12:22 PM #10
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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