January 2021 Washington, DC Real Estate Report

2020 was unprecedented for many reasons. The pandemic, economic turmoil and a brutal election season shook up many industries. Would real estate be any different? The results from our January 2021 Washington, DC Real Estate Report give a definitive answer.

Despite the bumps and bruises however, the D.C. metro area real estate market finished the year strongly. In 2020, the total sales dollar volume for the area reached $34.6 billion, which was nearly a 12% rise from 2019.  Incredibly, seven months of the year marked ten-year monthly highs.

People were apprehensive about moving during uncertain times.  As a result, new listing volume was essentially flat with 2019. Combined with strong buyer demand, it created the region’s tightest market on record.  Home buyers snapped up homes across the metro area, as days on the market fell into the single digits for the first time (nine days).

In December, new pending sales showed an unprecedented year-over-year growth, up 30.3% in a traditionally slow month. It was the best gain for any month in the past ten years.

The Bright MLS report that analyzes the regional housing market stated:

In 2020, the DC Metro real estate market achieved one of its strongest years ever.
Although social distancing protocols blunted the traditionally strong spring market, record low-interest rates shifted buyer demand to the summer and fall months. The high demand and low inventory levels pushed the median sales price for the year to an all-time high of $500K (up +8.7% from 2019) as homes left sale in just over a week.

In 2021, while interest rates look to remain at or near record lows (2.7% -3.1%), continued tight inventory levels will keep buyers locked in a competitive market that will benefit sellers. However, the impact of the pandemic and potential economic changes could also weigh on the market in the new year.

The number of closed sales in the city hit 885.

The Numbers Month to Month and Year to Year

January 2021 Washington, DC Real Estate Report

All of these changes affect your home value. If you want to know the new value of your home, click here!

Uptown Real Estate Sales for December 2020

Regional and citywide real estate activity has a big impact on the local Uptown, DC market in the neighborhoods near Shepherd Park, Takoma and Brightwood.  See our local monthly results below.

This Month’s Most Expensive

A re-imagined mid-century modern home on 16th Street NW in Shepherd Park  was this month’s most expensive home sale. This sale closed at $1.7 million.

This Month’s Most Affordable

A lovely 1 bedroom, 1 bath condo in 16th Street Heights was this month’s most affordable local unit.  The final price on this was $302,000.

16th Street Heights

Address Beds Price
5331 16th St NW 5 $1,675,000
5727 16th St NW 5 $1,415,000
1328 Shepherd St NW 4 $1,115,000
4718 15th St NW 6 $1,050,250
4608 15th St NW 5 $1,000,000
4508 Iowa Ave NW 4 $925,000
4314 14th St NW 3 $920,000
1205 Ingraham St NW 4 $900,000
1439 Oglethorpe St NW 4 $889,000
4717 15th St NW 4 $870,000
5710 Colorado Ave NW 4 $855,000
4504 14th St NW 5 $852,500
4912 Arkansas Ave NW 4 $802,000
5507 13th St NW 3 $774,000
5317 Illinois Ave NW 4 $740,000
1509 Crittenden St NW 4 $650,000
4420 15th St NW 4 $515,000
1340 Nicholson St NW #6 2 $472,000
4620 Iowa Ave NW #2 2 $339,750
1400-1404 Oglethorpe St NW #3 1 $302,000

Brightwood

Address Beds Price
6525 Piney Branch Rd NW 4 $980,000
6605 Piney Branch Rd NW 5 $895,000
1364 Underwood St NW 4 $850,000
730 Oneida Pl NW 4 $750,000
1246 Van Buren St NW 3 $722,000
819 Sheridan St NW 4 $699,000
6613 5th St NW 4 $650,000
6202 Georgia Ave NW 3 $625,000
528 Roxboro Pl NW 3 $603,500
518 Sheridan St NW 2 $585,000
6211 7th St NW 3 $575,000
564 Brummel Ct NW #564 3 $535,000
804 Quintana Pl NW 3 $525,600
5303 7th St NW 3 $520,000
6445 Luzon Ave NW #411 2 $256,000

Colonial Village

Address Beds Price
1630 Jonquil St NW 6 $1,635,000
1716 Portal Drive NW 4 $1,250,000
1631 Primrose Rd NW 4 $899,000
2114 Sudbury Pl NW 3 $799,900

Crestwood

Address Beds Price
1626 Decatur St NW 4 $1,210,000

Shepherd Park

Address Beds Price
7229 16th St NW 5 $1,786,673
7407 16th St NW 5 $1,945,000
1305 Hemlock St NW 5 $925,000

Takoma

Address Beds Price
421 Whittier St NW 5 $1,100,000
6612 2nd St NW 3 $765,500
218 Whittier St NW 2 $700,000
209 Beacon Pl NE 3 $607,500
422 Butternut St NW #201 2 $505,000
248 Van Buren St NW 3 $455,000

All of these changes affect your home value. If you want to know the new value of your home, click here!

About Love Living DC

Love Living DC is Washington’s #1 real estate team for dependable neighborhood expertise. If you have any questions about buying, selling, or investing in DC real estate, feel free to reach out to me anytime. I’d be happy to help.

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Jennell Alexander

Love Living DC is Washington’s #1 real estate team for dependable neighborhood expertise. If you or a friend need a smart, experienced real estate agent to help you buy, sell, or invest in a home in the DC area, give me a call.

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