November 2020 Washington, DC Real Estate Report

Strengthened by low interest rates and a recovering economy, the Washington D.C. real estate markets saw record-setting median sales prices as demand remained strong and days on market held at all-time lows.

Prince George’s County earned an October-decade best closing volume (total value of all homes sold). Activity in Upper Marlboro rose 15.1%.

Montgomery County also registered an October high with 605 attached homes sold.

In the region, Days on the market for single-family homes also remained at an all-time low seven days for a third consecutive month. Buyer demand is so strong that a home that I am selling in Upper Marlboro received 12 offers in just one day on the market.

The number of closed sales in the city hit 922.

The Numbers Month to Month and Year to Year

DC Real Estate Report November 2020

The median sales price for all homes sold in Washington, DC last month was $675,000.  This was a year-over-year increase of almost 17%. This figure also set a new record for home prices in the city by over $15,000.

In addition, the median sales price for single-family homes crossed an important psychological barrier by topping $1 million for the first time! That is a shocking 24% increase over last year.

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

A few highlights of the current Washington, DC Homes for Sale are shown below and represent a nice cross-section of properties available, under contract, and that have sold.

This Month’s Most Expensive

A double-parcel home in the exclusive Forest Hills neighborhood of NW was last month’s most expensive home sale.  The homes feature sumptuous English gardens that were conceived in 1985 by distinguished landscape architect Jane MacLeish.  The eight total bedrooms were taken off the market for just $7.3 million.

This Month’s Least Expensive

The least expensive of all Washington, DC homes sold was an end-unit rowhouse in Brookland. Though it needed some TLC. the buyer got a steal at just $80,000.

Uptown Sales for October 2020

16th Street Heights

Address Beds Price
4901 13th St NW 6 $1,555,000
5614 14th St NW 6 $1,265,000
5603 16th St NW 6 $1,212,500
1423 Varnum St NW 5 $1,207,000
1611 Kennedy Pl NW 5 $1,100,000
1518 Buchanan St NW 4 $1,055,000
1305 Delafield Pl NW 5 $1,000,000
4504 15th St NW 4 $940,000
4800 Iowa Ave NW 4 $899,000
1340 Kennedy St NW 3 $875,000
4212 14th St NW 6 $792,500
5106 14th St NW 5 $700,000
5230 Georgia Ave NW #105 2 $525,000
4620 Iowa Ave NW #1 2 $350,000
5230 Georgia Ave NW #303 1 $347,500
5230 Georgia Ave NW #207 1 $344,900
5230 Georgia Ave NW #201 1 $334,900
1320 Missouri Ave NW #304 1 $235,000

Brightwood

Address Beds Price
1346 Somerset Pl NW 4 $910,000
304 Madison St NW 4 $799,900
1254 Van Buren St NW 3 $781,000
5806 8th St NW 4 $780,000
5712 3rd Pl NW 4 $760,000
433 Jefferson St NW 3 $625,000
6208 8th St NW 3 $624,999
719 Somerset Pl NW 3 $599,000
6300 13th St NW 5 $575,000
525 Kennedy St NW #3 3 $540,000
525 Kennedy St NW #4 3 $530,000
7550 8th St NW 3 $477,000
422 Butternut St NW #T-6 2 $400,000
1365 Kennedy St NW #404 1 $252,136

Colonial Village

Address Beds Price
1913 Sudbury Rd NW 3 $1,150,000
8114 W Beach Dr NW 3 $890,000

Crestwood

Address Beds Price
4105 18th St NW 5 $1,875,000
4019 18th St NW 3 $1,141,000
4628 Blagden Ter NW 3 $857,500

Manor Park

Address Beds Price
5712 Capitol N 3 $765,000

Shepherd Park

Address Beds Price
1528 Roxanna Rd NW 3 $965,000
1128 Shepherd Rd NW 3 $677,000

Takoma

Address Beds Price
6608 Piney Branch Rd NW 4 $1,008,001
6003 Chillum Pl NE 3 $570,000

What These Numbers Mean to You

New month, same story: Low mortgage interest rates and low inventory continue to keep the DC area market soaring to new heights.  Though we’re beginning to read more anecdotes about people moving out of the city for pandemic related reasons, we are not seeing that trend reflected in the sales data.  Current owners continue to see their homes appreciate in value while potential buyers struggle to outbid one another for the homes that hit the market.  Despite the election, most experts expect this trend to continue at least in the short term.

Tune in next month to find out the latest local real estate news.

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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