Buzzard 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)