Hello again and welcome to another installment of the District Ninja Real Estate Report. Having now done this for several months, we decided to do a few things differently this time. We did this so we could show month-to-month trends and feature individual homes that had the top over/under closing price and list price. The table below compares home sales, closing price, list price, and more, compared in April and May.
April 2016 vs May 2016 Comparison Table (Averages)
|Cost Per Sq. Ft.||$492||$892||+400|
|Days on market||80 days||71 days||-9 days|
|Neighborhood w/ most sales||Columbia Heights||Columbia Heights||No Change|
First, we notice that that there was a 12% increase in home sales in May. in home closings in May when compared to April, with an average list price and closing price up 9% month over month. Seemingly, May seemed to be a more competitive/expensive month for home buyers in the District on all accounts. Closing prices saw roughly a 10% increase, homes were sold 9 days faster in comparison to April, and cost per sq ft. in May was 81% greater than in April!!. Of course,it should be noted that occasionally square footage is not properly reported in MRIS so that data is a bit suspect and one or two mansion sales can throw things off. Finally, we can see that Columbia Heights remains D.C.’s most competitive neighborhood for home buying for a second month in a row.
Top 10/Bottom 10 Sales w/ Greatest Difference Between Closing Price and List Price.
Next we have featured the top 10 properties that have sold over or under asking price. This allows you to see more in depth profiles of some of the biggest price wars and bargain deals across DC’s many sales in the month of May. If you drag your mouse over the third column with the difference in close/list prices, number of bedroom/bathrooms, days on the market, and more. Also, if you pay close attention to the quadrants at the end, you’ll note that all of these properties are exclusively in Northwest. This is a stark difference from April where we saw far more properties on this list located in Northeast and Southeast.
Top 5 Neighborhoods with Most Home Sales
This visual represents the top 5 neighborhoods with the most home sales out of the 106 total neighborhoods in May that saw one or more sale. The figure on each bar represents the average closing price for a home in each neighborhood. Drag your mouse over each bar to see more information like the average cost per square foot, average year homes were built, and more. We can see that four of the neighborhoods that experienced the most sales in April have done so again in May. The newcomer to the top 5 this month is Petworth. We can also see the impact these neighborhoods had on total sales as 5% of the DC’s neighborhoods accounted for 21% of total home sales in May District wide!
Total Home Sales Mapped by Quadrant
Finally, we’ve mapped out all the home sales by quadrant so you can get a mapped view of where the home sales occurred for the month of May. The line graph to the left allows you to see the frequency at which sales occurred throughout the month and what days experienced peak sales. If you drag your mouse over each marker on the map, you can see more information such as the address, number of bedroom/baths, neighborhood, and more. Enjoy!