Market Report - 20024 - Washington, DC SW - 2019 7

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

DC Audi Stadium Opener

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 23 homes were sold in July 2019, with an average for the prior 5 years being 22.  This is a tiny bit above the statistical average, and a touch above the previous month.  The market is doing well.

Currently 33 homes are on the market, a few more than the previous month; and slightly above the July average for the prior 5 years of 30, we still need more inventory. 

We are at 1.7 Months of Supply,  an slight increase from last month, still not healthy, but realistic for this city in 2019; it's also slightly higher than the prior 5 year average of 1.6;  We'll have to keep watch.

Activity in July shows us a decrease from the previous month to a $409,000 Sold price.  This is just a little below the 5 year average of $411,200.  Perhaps prices have stabilized. 

This month the average home was sold in 16 days and the 5 year average was 37.  This is a small increase from last month, still indicating an influx of buyers into the market and inventory isn't keeping pace.  

The ratio of sold price to original list price is 100% and the average for the prior five years was 99.7%.  Zero  bargaining for buyers this month vs. last 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)

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

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
District of Columbia District of Columbia County Washington Sw Waterfront
Tags:
market reports
sw washington dc
buzzard point

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
2,036,697
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Fort Worth, TX
Selling Homes Changing Lives

Claude Labbe - Considering this can be a slow time for real estate sales, your July report was great! I hope buyers and sellers know how lucky they are when they hire you! Today and always I wish you great sales, good health, and lots of happiness!

Sep 17, 2019 01:15 PM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
605,232

Claude Labbe

Realty for Your Busy Life
What's Your Preferred metro Washington DC Neighborhood ?
*
*
*
*
Spam prevention