Before we begin we wanted to thank DC Realtor and District Ninja reader Valerie Greene for helping us with the data for this weeks post. We hope to begin a monthly installment of DC Real Estate coverage the District Ninja way! Thank you again for reaching out! One quick note to make about the data; we leveraged the D.C. OCTO Neighborhood Boundaries to create neighborhood context instead of the the MRIS neighborhood field which is self reported and therefore inconsistent.
We also wanted to apologize for being a bit behind on our weekly posts. We are working on a few larger pieces which has slightly thrown off our rhythm. We hope to resume weekly posts very soon!
Top 5 Neighborhoods with most January 2016 Sales
For some context: It is much easier to appreciate the amount of sales Dupont Circle saw in January when you consider that Dupont Circle had more than double the amount of total sales in comparison to Adams Morgan. That being said, properties in Adams Morgan on average sold 27 days faster than those in Dupont Circle. It should also be noted that when comparing Columbia Heights and Petworth, both in the top 5 with similar total sales in January, home buyers seemed comfortable paying a higher price per square foot for smaller properties in Columbia Heights. During the month of January buyers paid an average $134 higher per square foot with an average of 148 less sq. ft in property size sold.
This first visual shows the top 5 neighborhoods with the most sales in January. The first number on the bar represents the average closing price and the second figure represents the average cost per square feet. If you drag your mouse over each bar, you can see the averages in each neighborhood for days on the market, list price, and total sq ft. per sale.
This last table lets you get a deeper look at sales across all neighborhoods in D.C. If you click on each category, you can sort it from highest to lowest and vice versa. We identified some interesting takeaways we came across below:
January’s Most Expensive Neighborhoods:
By Total: A single home in Woodland-Normanstone (better known to most as Embassy Row) sold for $5.8M in January making it the most expensive neighborhood overall by “sale price average”. When considering the need for a larger sample of homes, Georgetown is by far the most expensive with an average sale price of $1.57M and 10 homes closing in January.
By Square Foot: At $763 per square foot, Mass Ave Heights (very close to Woodland-Normanstoe) is the most expensive per square foot for sales in January.
By “Over Ask”: In January, Shepard Park wins the most “Over Ask” with an average of $50,000 dollar closing price over ask for 3 homes sold in January.
January’s Least Expensive Neighborhoods:
By Total: Washington Heights is by far the least expensive neighborhood with 2 homes closing at an average of $43,000 but when looking for a larger sample Deanwood ranks the least expensive with 6 homes selling for an average of about $182,000.
By Square Foot: Washington Highlands is the least expensive per square foot at $67/foot and two homes sold. It is worth noting that Deanwood is the least expensive in larger quantity at $88/ft.
By “Under Ask”: Skewing the numbers a great deal comes again the Woodland-Normanstone home which was discounted $949,000! If you are looking for a luxury home at a good price in the District however Palisades may be a better bet with 8 homes selling at an average of approximately $50,000 under ask.
January’s Most Sought Neighborhoods
By Total Sales: Dupont Circle tops the list with 25 sales in January
By Days on Market: Forrest Hills tops the list with 4 homes selling in an average of 41 days.
We hope you enjoyed the Ninja Report on January 2016 and stay tuned for February! Thanks again to Valerie Greene for her help!