Market Report - 20024 - Washington, DC SW (DC United) - 2015 10

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

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.As of late October June, the city has essentially been able t procure all the land which is needed for this stadium.

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 October 2015,while the average for the prior 5 years is 17, so this is balanced, which is quite unusual in our strong local market.

Currently 25 homes are on the market, whereas the October average for the prior 5 years is 36, which does will confirm, yes, we are still in a strong market, albeit acknowledging a slower month.

With this ratio, we are at 1.3 Months of Supply, which does support more a strong market; we'd prefer to see a number closer to the prior 5 year average of  2.4, which itself isn't very high, but still higher than many abutting neighborhoods.

 

This month's activity shows us a $325,000 Sold price, the prior five years average being $320,100, slow upward growth which is an advantage to buyers.

All all indicators would suggest, the market is moving with the average home being sold in 9 days, 5 year average being 13, which simply means if a buyer finds a home they like, there is little to no time for deliberation and introspection.

While the ratio of sold price to original list price is 99.5%, the average for the prior 5 years was 99.7%. Let's notice this is less than prior numbers where we've seen 100% this year.

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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Rainmaker
755,480
David Alan Baker Laveen & South Phoenix Realtor
Keller Williams Realty Phoenix - Laveen, AZ
Your local Expert

Great information, and as a car enthusiast and numbers guy, I love the charts.

Dec 06, 2015 09:16 AM #1
Rainmaker
596,593
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

David Baker Realtor - Laveen Homes for sale I'd not thought of it from the automobile angle...but yes, so very true.

Dec 06, 2015 09:28 AM #2
Rainmaker
863,646
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

I also love the charts. Thank you for sharing your local market report. It looks like your market is still pretty hot, seeing as th ere is only 1.3 month of supply.

Dec 06, 2015 09:41 AM #3
Ambassador
888,472
John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

Looks like a place where buyers can't afford to wait when making their best offer.  Great info & charts here!

Dec 06, 2015 10:41 AM #4
Rainmaker
596,593
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

Les & Sarah Oswald Thankfully, the market should start seeing more inventory as we flip into 2016, and that will help buyers.

John Meussner Once the buyer understands how important timing is, then it works better.  As you well know, part of that is having a solid lender ready to pull it together quickly.

Dec 06, 2015 11:10 AM #5
Rainmaker
1,916,323
Ronald DiLalla
Century 21 Discovery DRE 01813824 - Anaheim, CA
No. Orange Cty Real Estate

Hi Claude, always enjoy viewing information on other locations.tks for sharing.

Dec 06, 2015 11:22 AM #6
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 07, 2015 03:48 AM #7
Rainmaker
3,195,254
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude a Soccer Stadium? when I was in HS it was hard to find anyone who would support Soccer... amazing what time can do:))Endre

Dec 08, 2015 03:33 PM #8
Rainmaker
1,286,171
Jon Kolsky
Kolsky Realty & Management - Long Beach, CA
Licensed California Real Estate Broker

Claude Labbe ~ your market report is awesome, and it is very helpful to buyers and sellers in your area. Nicely done, and I hope buyers and sellers in your area call on you for any and all real estate needs

Dec 09, 2015 04:53 AM #9
Rainmaker
596,593
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

Endre Barath, Jr. The details of the stadium are potentially a bit darker. There is currently lots of chatter with regards to political favors, etc; lets ignore that and just play ball.

Jon Kolsky Thank you sir, Active Rainers have taught me how to produce them.

Dec 09, 2015 11:58 AM #10
Rainmaker
3,195,254
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude love the background dirt:)) always entertaining... when we came to Los Angeles from Boston,MA 20+ years ago, I went to a breakfast meeting where the powers to be said that the landscape of downtown LA would change... there would be the Staples Center, LA Live and the list goes on and on... to buy land in those days downtown was less than a one dollar a square foot..... need I say more... politics... money... and now when a condo would sell for $399k we thought that was over priced... today $4million is not unusual.... so with that said I get it....Endre

Dec 09, 2015 01:46 PM #11
Rainmaker
4,064,674
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Claude, on my only nine days on the market?   You have had to be very busy! 

Dec 09, 2015 10:54 PM #12
Rainmaker
596,593
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

Endre Barath, Jr. My sense is that the prior 20 years in L.A. are essentially going to be repeated again in the next 20 years.  That's also the growth we are seeing and expect still here in DC.  I left Boston in 1996-8 (it's fuzzy, I started commutting in 1996, left in 1998) and whenever I go back, I hardly recognize the city.

Joan Cox The trick is to not lose your sanity or perspective on what is smart and what is foolish when things are moving that quickly.

Dec 10, 2015 01:01 PM #13
Rainmaker
3,195,254
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude we were leaving just about the same time.... we left end of 1997/beginning of 1998 small world... it was El Nino here when we arrived:)), Endre

Dec 10, 2015 01:40 PM #14
Ambassador
1,769,785
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Hi Claude, I really like your reporting style. Great DC market report.

Dec 13, 2015 10:53 AM #15
Rainmaker
2,704,764
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Hello Claude Labbe 

Great market report for a truly uniquely named community...Buzzard Point, sounds like something out west!

Dec 13, 2015 11:09 AM #16
Rainmaker
2,005,609
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Hi Claude,

You have a creative way of telling the market as is in your area and things are looking great, thanks to you! What you bring to your clients is an honest approach to sales, integrity in all you do, excellent communication and a style all your own. In other words, you're the best!

Dec 13, 2015 02:13 PM #17
Rainmaker
2,394,939
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Great charts! Buzzard Point is quite a name, is there a story behind that name?

Dec 15, 2015 11:39 AM #18
Rainmaker
596,593
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

Patricia Feager, MBA, GRI, Cert Negotiations Expert, Military Relo Prof I can handle compliments all day long.....and....you are very kind.

Evelyn Johnston Perhaps that's an idea for a good blog post.

Dec 15, 2015 11:41 AM #19
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