Market Reports - 20024 - Washington, DC SW - 2023 07

Real Estate Agent with RLAH / @properties DC / MD / VA

DC Audi Stadium Opener

This quote is getting older, but even more relevant in 2023. Councilmember Charles Allen was quoted in the Washington City Paper (8/21/2O15) saying "Southwest is an absolutely incredible neighborhood.  It's 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.


A total of 18 homes were sold in July 2023, a few less again than the previous month and a few less than the 5 year average of 23.  The large swings in the market that were attributed to interest rates may have mostly moderated, but they are still there nonetheless. As always, we surely could use more inventory.    

Currently 59 homes are on the market, less than the previous month; and a few less than the July average for the prior 5 years at 52. Will we see more gains? Or will the Fed increasing interest rates continue to cool the market in this neighborhood?

We are at 3.3 Months of Supply,  and 2.6 for the 5 year average. This is a small decrease from the previous month.   This up and down movement is apparently the norm for this city in 2023. We'll have to keep watch, but are sellers expecting too much or have the wild swings moderated? Are buyers expecting deals that aren't there?


Activity in July shows us another large drop from the previous month to a $315,000 Sold price. This is a good bit below the 5 year average of $390,600.  Up and down, up and down, are we any closer to moderating? We will hope for more improvements.   

This month the average home was sold in 15 days, that's a drop from the previous month, and lower than the 5 year average of 21.  Will the numbers go up or down again? Or is the market settling on a new normal?

The ratio of sold price to original list price is 99.5% and the average for the prior five years was 98.6% are identical to last months.  The bargaining for buyers is barely there. 

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.

Stay tuned for next month, and in the interim, safe safe & stay sane.

(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


Comments (5)

Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Claude Labbe  good to see you back posting, hopefully because you were on vacation or very busy with real estate that we did not see you? Inquiring minds want to know, Endre

Aug 29, 2023 09:26 PM
Claude Labbe

busy with vacation which turned into a longer time away (not so bad at all)

Aug 30, 2023 07:42 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Claude. Sounds like buyers and sellers both could make their best choices with your counsel since you have your ear to the rail. Thanks! Enjoy your day.

Aug 30, 2023 04:14 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Thanks for the market update.  Your posts on what is going on around you are always so helpful!  I really enjoy reading them- particularly since it is our home town.

Aug 30, 2023 07:58 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC

Thanks for sharing your market report with us here in the Rain. It's always interesting to see how other areas of the country are doing.


Sep 07, 2023 09:26 AM