Market Report - Woodridge - Washington, DC - 2015 10

By
Real Estate Agent with Real Living | At Home DC / MD / VA

Woodridge is 'the' neigborhood in NE Washington, DC for all those buyers still trying to get into the market while their budgets allow.  This gem of a neighborhood has mostly single family detached homes, with easy access to downtown or to the Metro while retaining space with larger home lots, and trees. And more trees. Lots of the homes I've sold in this neigborhood also have vegetable & herb gardens.

Woodridge is nestled along the Mount Rainier, MD border, itself having a vibrant arts scene.  To the west is South Dakota, allowing easy access to major entry/exit points of the city, as does Bladensberg to the south.

People (buyers and realtors) are talking about Woodridge, which means the media is as well.  Washingtonian Magazine has this as one of the two "must buy in 2015" neighorhoods, and they very much focus on homes and real estate since that is an integral part of enjoying life in this city, as any other.  Redfin, itself a numbers obsessed organization, listed Woodridge as the #1 neighborhood to buy in 2015 in DC, while ranking Woodridge as the #10 neighborhood to buy in the US in 2015.

What I like about this neigborhood are the changes which have started and will continue along Rhode Island Avenue. When I heard a local NPR broadcast repeated a few months ago, surely I realized that now, everyone knew.  But that's fine because it confirms what I've been telling buyers for awhile now.

 

In a nutshell, 8 homes were sold in October 2015, while the average for the prior 5 years is 8, letting us know that obviously a secret is still a secret.

Currently 20 homes are on the market, whereas the October average for the prior 5 years is 23 about the same. Pressure is coming…it’s just not here quite yet.

With this ratio, we are at 2.2 Months of Supply, which is almost a buyer's market compared to the rest of DC.  Someone has figured out Woodridge is here, if you notice the prior 5 year average of 3.2 months.

 

This month's activity shows us a $424,000 Sold price, compared to the five year average of $350,000.  While down a bit from earlier this year, prices are remaining high in this great little neighborhood.

While the average days on market in this neighborhood has increased, with the average home being sold in 24 days it’s still below the 5 year average of 36.  It seems to be taking a little longer to sell in this neighborhood than in other areas of the city. Have trends reversed permanently? Or is this only temporary? Time will tell.

While the ratio of sold price to original list price is 99.3%, the average for the prior 5 years was 95.6%.  Buyers that are here are taking what opportunity there is and maximizing it. 

Many of these numbers can be viewed as a good market, but with some wiggle room due to buying trends.  It’s not hot, hot, hot….. yet, but again, this will change as buyers exhaust resources in other areas.  Renovation is king here, and soon there will be a spotlight on this neighborhood just like the others.

(data from getsmartcharts)

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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Ambassador
2,869,173
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Love that you're sharing what the "in" neighborhood is right now.  Buyers should take note and call you to find them a house there.

Dec 04, 2015 02:28 PM #1
Rainmaker
1,312,518
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

Hi Claude,

Great market report.  I love the dials showing the stats!!!

Dec 06, 2015 05:34 AM #2
Rainmaker
771,637
Bob Baesmann
DFW Team Realty - Plano, TX
DFW Team Realty | 972-978-8800

Great Market Report.

Thanks for the information on the local community sales!

Dec 06, 2015 07:48 AM #3
Rainmaker
604,182
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

Tammy Lankford The "in" place changes with time; typical market of supply & demand...when everyone rushes in, prices jump and so, eventually, others have to find the next place within their budget.

Wayne and Jean Marie Zuhl What did you do?  You've never been able to see these, and now you can??  Perfect !

Bob Baesmann Nice to meet you, thank you for the note

Dec 06, 2015 07:52 AM #4
Ambassador
2,869,173
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

absolutely it does.  That happens here too.  Let someone tear down and build new in a neighborhood and that instantly becomes the new "in" place.  One reason I follow building permits so closely.

Dec 06, 2015 11:20 AM #5
Rainmaker
3,209,278
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude our market place is very similar prices have skyrocketed and places are getting Gentrified and are now the "in" neighborhood to live in, Endre

Dec 06, 2015 12:22 PM #6
Rainmaker
604,182
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

Endre Barath, Jr. Everyone is always trying to stay one step ahead.  It's healthy for the commuities, though not without risk to some.

Dec 07, 2015 02:56 AM #7
Rainmaker
1,312,518
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

Not really sure Claude, but I'm happy to finally see them!

Dec 07, 2015 03:56 AM #8
Rainmaker
1,312,518
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

Actually I can see them on my home computer. I'm in the office and I can't see them.  I'm using Windows10 at home, I wonder if that has something to do with it.

Dec 07, 2015 03:56 AM #9
Rainmaker
604,182
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

Wayne and Jean Marie Zuhl Some goblin is messing it up, or missing, but that's beyond my scope of knowing. (and to think I  had a background in IT)

Dec 07, 2015 04:25 AM #10
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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