Market Report - 20024 - Washington, DC SW (DC United) - 2016 02

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

DC United Stadium

Councilmember Charles Allen was quoted in the Washington City Paper (8/21/2015) saying "Southwest is an absolutely incredible neighborhood.  It'a neighborhood that has so many things: Metro stations,water access, parks & greenspaces, small and big residential buildings.  A lot of people just didn't realize it was there".

The new DC United soccer stadium, as well as the PNHoffman's The Wharf will ensure a lot more people find this neighborhood.

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, 13 homes were sold in February 2016, while the average for the prior 5 years is 12, sales appear to be stable or a little low, but it is the slow time of the year.

Currently 21 homes are on the market, whereas the February average for the prior 5 years is 27, following trends for the last couple months, the market continues to perform, however we add another slightly slower month.

With this ratio, we are at 1.2 Months of Supply, which continues to show a strong market; a bit more supply would be nice, but at the prior 5 year average of 1.7, it still continues to be higher than many abutting neighborhoods. 

February’s activity shows us a $365,000 Sold price, the prior five years average being $285,600. Robust growth is surely an advantage to sellers in this neighborhood.

The same as the previous month, the market continues to move with the average home being sold in 11 days, 5 year average being 38, this is a very strong market so if a buyer wants to live in this neighborhood, they must act smart and fast or lose to another buyer.

While the ratio of sold price to original list price is 99.7%, the average for the prior 5 years was 99%. Mirroring previous statistics, buyers that desire this neighborhood must bring their A game to the table the first time or lose out.

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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2016 Market Reports
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Rainmaker
780,080
David Alan Baker Laveen & South Phoenix Realtor
Keller Williams Realty Phoenix - Laveen, AZ
Your local Expert

Love checking out these reports, nice charts too.

Mar 29, 2016 12:22 PM #1
Ambassador
2,880,976
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Just wow, houses are flying off the shelf there and not much inventory and price is up.  Just wow.

How are you?  

Mar 29, 2016 01:10 PM #2
Rainmaker
3,221,177
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude missed you in the Rain, I suspect crazy busy like here, glad you are back and loved this post... the market we could change the names and it would be my market report, Endre

Mar 29, 2016 04:19 PM #3
Rainmaker
3,337,001
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Claude. Seems like a tight market that is continually successful! Enjoy your day!

Mar 29, 2016 08:31 PM #4
Rainmaker
2,394,983
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

I love your charts! I imagine you love the market...

Apr 04, 2016 12:42 PM #5
Rainmaker
2,047,483
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Fort Worth, TX
Selling Homes Changing Lives

Good Morning Claude! The new DC United soccer stadium, as well as the PNHoffman's The Wharf looks architecturally stunning! It will surely attract tourist sand people from other countries.

I also love your charts! They are unique and a nice fresh idea!

Wishing you a great season and all good things to come your way!

Apr 06, 2016 08:45 PM #6
Rainmaker
3,221,177
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude I am such a fanatic about discipline.... here I am at virtually midnight.... time blocking is the key my friend...:)) nice to see you back, Endre

Apr 12, 2016 04:45 PM #7
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Rainmaker
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Claude Labbe

Realty for Your Busy Life
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