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
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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