Market Report - 20024 - Washington, DC SW - 2020 02

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 12 homes were sold in February 2020, with an average for the prior 5 years being 12.  This is a slight drop from the month before, and right at the average.  The market is doing well and as always, could really use more inventory. (Lets see how March changes, for this all all statistics)

Currently 40 homes are on the market, this is a few more than the previous month; and above the February average for the prior 5 years of 31, but like many neighborhoods, we really need more inventory. 

We are at 2.1 Months of Supply,  a little more than the previous month, though realistic for this city in 2020; it's also  higher than the prior 5 year average of 1.7;  We'll have to keep watch.

Activity in February shows us and almost identical price from the previous month at $437,500 Sold price.  This is still quite a bit higher than the 5 year average of $397,500 however.   

This month the average home was sold in 56 days and the 5 year average was 21.  This is a huge jump from the previous month and quite a bit little higher than the 5 year average, a prelude to COVID-19?  There is still an influx of buyers into the market however.  

The ratio of sold price to original list price is 98.6% and the average for the prior five years was 98.9%.  A little bargaining room for buyers this month, but just a little! 

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
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Sara Wagner
The Woodland Companies - Adams, WI
Stevens Point Rentals

Thanks for sharing the information on this community, I hope you sell many of these homes. 

Sara 

Apr 02, 2020 01:14 AM #1
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Rainmaker
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Claude Labbe

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