This quote is getting older, but even more relevant in 2018. 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".
Audi Field, home of DC United Soccer, as well as PNHoffman's The Wharf will ensure a lot more people find this neighborhood.
This view shows the opening day, which was a good day, albeit with opening issues. DC United has upped it's game this season with a few team additions, surely to benefit a stronger team.
We can see 20 homes were sold in June 2018, with an average for the prior 5 years being 21, this month again saw a drop in the number of available homes on the market likely contributing to the higher prices, we really do need more homes to make their way onto the market.
Currently 35 homes are on the market, a drop from the previous month; but higher than the June average for the prior 5 years of 27, which should be a good signal if looking at this metric only.
We are at 1.9 Months of Supply, not healthy, yet realistic for this city in 2018; and a tad higher than the prior 5 year average of 1.5; a bit of a slowdown perhaps as we now have a trend. We'll have to keep watch.
Activity in June shows us a $447,000 Sold price . This price is higher than last months and this is nicely higher than the 5 year average of $377,500.
A slowdown since last month with the average home being sold in 18 days and the 5 year average being 10. Here's to hoping that this is only a summer slowdown hiccup.
The ratio of sold price to original list price is 100% and the average for the prior five years was 99.9%. Buyers aren't seeing much bargaining this month.
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)