Past Market Trends

Real Estate Market Report

Our previous market report covered early Spring data. We now have a fuller picture for the entire season as we head into what is generally one of the year’s most active periods. There has been a welcome uptick in the number of homes receiving accepted offers in Dupont Circle, with six currently compared to three in our previous report. If there are any clouds in an otherwise sunny sky, it’s an unexpected inflation blip in the month of March. This prompted the Fed to suggest a slower path toward their ultimate plan for multiple interest cuts this year.

Looking strictly at the numbers, the current average list price for single-family homes in Dupont Circle is $3,810,024, a slight reduction from our last report of $4,017.750. The average sales price is now $1,961.308 compared to the previous closing amount of $2,008,615. The average days on market (DOM) for the entire Spring period is 47 compared to the earlier snapshot of 45. The frequency of sales is holding steady at 13 for the current period, matching 13 transactions during the winter months.

By contrast, the Dupont Circle real estate market is still slightly lagging when compared to the first quarter of 2023, which in turn followed a more dramatic cooling off trend in 2022. The larger context is an unexpectedly hot real estate market coming out of the pandemic, followed by spiking inflation that hit its peak in 2022. We are still feeling the ripple effect from that era to some extent. But apart from some monthly outliers, the overall inflation picture seems to be moving in the right direction.

The big question, of course, is whether buyer appetite will heat up noticeably in the coming months, and if we’ll see the dizzying peaks of just a few years ago. The answer is likely to be a measured one. We have to remember that Dupont Circle is its own localized market, a charming historic district in the heart of the federal city, with homes that tend to hold their value quite well. Current trends suggest increased activity in the months ahead, but perhaps not a scorcher of a summer.

As a longtime Dupont resident and a trusted real estate advisor for more than 30 years, I have seen the ups and the downs. Experience, knowledge, marketing skills, and honesty all matter. As always, please feel free to reach out with any questions you may have.

Real Estate Market Report

Spring has arrived in the nation’s capital, along with milder weather and the first cherry blossoms! It is also a time when the local real estate market begins to poke its head out from the long winter shadows. Here in Dupont Circle, we’re beginning to see signs of increased activity with new listings, offers, and sales. It’s part of a familiar seasonal trend, as sellers and buyers alike prepare for one of the busiest times of the year.

For the Live in Dupont market reports, we concentrate on single-family homes which most commonly means rowhouses as well as some of the neighborhood’s grand old mansions. Those more interested in condominiums might wish to visit our Life at the Top website with its emphasis on penthouses and upscale condos throughout the DC area. As of this report, there were 16 single-family residences for sale in Dupont Circle, along with three homes currently under contract. There were also 13 properties that sold during the winter months.

You’ll find a wide range of prices and sizes when it comes to available homes in Dupont, most generally offered between around $3 million and $7 million with some notable outliers. While the average active list price is $4,017,750, the most recent sales average is considerably less at $2,008,615. However, it’s worth noting that the difference is not a result of homes selling for far less than their asking price. Instead, it’s simply a matter of winter closings that were generally smaller and with lower asking prices than those currently on the market.

Another interesting discrepancy is the most recent average days on market (DOM) for sold homes at 45, compared to the much shorter time frame of 23 DOM in our last report. Does this indicate that transactions are now lagging, and that buyers are dragging their feet? In fact, no. The longer 45 DOM period simply reflects those homes sold during the slower and much colder months. In fact, early Spring indicators show renewed interest, lots of open houses, and some fast offers!

With solid economic growth, low unemployment, and expected interest rate reductions, the entire country will likely see a return to a more stable real estate picture. Meanwhile, Dupont Circle continues to be one of Washington’s most sought-after neighborhoods, steeped in history and known for its vibrant culture, and an absolutely amazing restaurant scene. As a longtime homeowner in the neighborhood and a trusted real estate advisor for more than 30 years, I invite you to reach out with any questions you may have.

Real Estate Market Report

The real estate picture in Dupont Circle during the late winter months largely mirrored that of the city as a whole, meaning that it slowed down to some extent but was certainly not in hibernation. This follows the trend from the fall months with seven closings in October, four in November, and three in December. It’s all part of a routine seasonal pattern in which home sales lag during cold weather and begin to increase again in February and March before heading into the busiest months of the year.

The average closing price for 12 recent transactions in the neighborhood is $2,103,083 while the median list price for homes that are currently active is $3,784,306. The discrepancy is largely due to one particular outlier, a 12-bedroom historic mansion priced at $14,500,000. Located at 2040 S Street, the property with its office spaces and mixed-use zoning, should not be considered as an accurate “comp” for residential purposes.

Looking more closely at completed transactions, the difference between the average asking price of $2,140,833 and average sales price of $2,103,083 is much narrower, showing a robust closing figure of approximately 98.3 percent of asking. Also worth noting, the average days on market of 23 during this period is less than that of the last 12 months (27 DOM). It’s still a seller’s market in Dupont Circle with a tight inventory and a healthy appetite.

The economy and interest rates will continue to play a role in the coming months. While there were four Fed hikes in 2023, there are some indicators that rates will begin a gradual decrease in 2024, providing greater opportunity for buyers. Dupont Circle is one of Washington’s most desirable communities, known for its lovely homes, its diversity of culture, amazing local restaurants, and an ideal location between Downtown DC to the south and Kalorama to the north. As a longtime neighborhood homeowner and a trusted real estate advisor for more than three decades, I am always at your service.

Real Estate Market Report

The New Year in Dupont Circle was welcomed by a mixture of weather from cold to colder. It’s still the winter season, a period in which the real estate market can feel like semi-hibernation. Sales slowed predictably over the last three months with seven closings in October, four in November and three in December. There were two pending sales as of this report, and signs of increased activity in the months ahead as sellers and buyers alike begin to lay plans and consider life’s many transitions. A rebounding economy, and the potential for multiple Fed interest rate cuts offer promise for a strong 2024.

Looking back at the past 12 months, there were 55 sales with an average closing price of $2,001,491, and a competitive 27 days on market (DOM). When it comes to active listings, the average list price is $4,371,583. But that unusually high number is an outlier, due to the 12-bedroom Jewett House, a grand historic mansion currently offered at $14.5 million. With its mixed-use zoning, it’s really not a property that should be used for comparable home values in Dupont Circle. Prices start coming back to earth with roughly a dozen other active listings. Further to that point, sales over the last three months ranged from $1,520,000 to $3,300,000 for an average of $2,103,083, as well as a competitive 23 DOM.

It should also be pointed out that the figures we are citing are for single-family homes and townhouses. The neighborhood also has a healthy number of condominium and cooperative buildings, such as 1745 N, the Chinese Embassy, Dumbarton Place, Northumberland, and many others. Those who may not need the size of a multilevel rowhouse but still want to live in our community, may wish to investigate this broader spectrum of residential buildings, from historic to contemporary.

Regardless of the size, price, or type of property that most speaks to you, Dupont Circle

is one of Washington’s most vibrant, diverse, and culturally exciting neighborhoods. It’s leafy and highly walkable, with a strong sense of community, yet just blocks from Downtown DC. All the indicators point to a very active housing market in 2024. These cold winter months are a good time to assess your needs and look ahead. As a native Washingtonian, a longtime Dupont homeowner, and a trusted real estate advisor with 30 years in the game, I can confidently predict that we’re in for a busy year ahead! As always, I invite you to reach out with questions about our wonderful community.

Real Estate Market Report

The leaves have fallen from the trees and the weather is getting colder in Dupont Circle. This is usually the time of year when the real estate market begins to experience winter doldrums. That said, there was a flurry of sales activity in recent weeks and months, with three closings in September, seven in October, and three in November. These transactions range from a revamped and modernized rowhouse that sold for $1,495,000, to a four-story, six-bedroom home originally built in 1915, that closed at $3,300,000.

To what degree activity will slow during the final month of 2023 and the opening frame of 2024, is open to debate and guesswork. There were three additional properties in pending status in the early part of December, suggesting that home buyers aren’t ready to hibernate quite yet. As for the state of real estate overall in 2023, it was a busy year with approximately 65 single-family home/townhouse sales, as well as over 200 condominium unit transactions. Another 15 homes are currently active, along with dozens of condos. In other words, the Dupont real estate market remains open for business this winter.

Looking at a few other stats, the days on market before a transaction is always a good indicator of buyer appetite. The current average of 28 DOM is right in line with last month’s market report (also 28 DOM). When looking at year-to-year comparisons, the median sales price of $1,858,269 is a nice bump up from the November 2022 report of $1,637.725. There are also more available properties currently than at this time last year. What’s fueling the activity? One reasonable theory has to do with a strong economic picture currently, together with a pause on Fed interest rate hikes since late July.

With the winter holidays upon us, I want to take a moment to wish you all a festive close to 2023 and the very best for 2024. We are fortunate to live in one of Washington, DC’s most culturally vibrant neighborhoods, known for amazing local restaurants, fun indie businesses, architectural treasures, and a true camaraderie among its citizens. There is no place I would rather be than Dupont Circle. As always, I invite you to reach out with any questions about real estate or the neighborhood. We’ll be back with another market report in the New Year!

Real Estate Market Report

With the late months of Fall upon us in Dupont Circle, the leaves have turned yellow and orange, and the real estate market remains hearty and crisp. The number of closings has been quite high with 12 recent sales including seven in October alone. Transactions for these lovely historic properties range from a Federal-style townhouse with two bedrooms and two baths that sold for $1,000,000 to a four-story home with six bedrooms that closed at $3,300,000 after listing for $3,495,000.

This time of year is often seen as a last flurry of sustained activity before winter sets in. The average sales price during the late fall of 2023 is $1,739,375, which is less than the average amount this time last year of $1,994,000. However, it is worth noting that the volume of sales is way up, from just five in the third quarter of 2022 compared to the current bumper crop of 12. Another encouraging indicator is the days on market average this fall of 28, which is noticeably shorter than last year’s 37 DOM.

There have been 48 single-family home sales in Dupont Circle so far this year. There are 16 homes currently on the market, and two that were under contract as of this report. A sampling of active listings shows a wide range of asking prices from $2,495,000 all the way up to $14,500,000. Many of these properties are grand old manors with sizeable floorplans, including the Jewett House on S Street with 12 bedrooms, and the Shehan Mansion on 16th Street, built in 1885 and offering 13 bedrooms and 11.5 baths.

Dupont Circle is encompassed by a nationally recognized historic district, with an impressive array of elegant architectural styles including Queen Anne, Beaux Arts, Richardsonian Romanesque, Georgian Revival, Renaissance, and Second Empire. It is also culturally vibrant and eclectic, with a myriad of top restaurants, local theatre, art galleries, embassies, the S Street dog park, a farmers market and so much more. As always, please feel free to reach out for information about the real estate market in our beloved community.

Real Estate Market Report

The early months of Fall have arrived in Dupont Circle with cooler weather, pumpkins on doorsteps, and a healthy level of real estate activity. The number of home sales has ticked up noticeably from the late summer months. This isn’t unexpected, as there is usually a lag period between listing a property and its eventual closing. In addition, the fall is often a busy time, with motivated buyers eager to move into their new homes before the holidays arrive.

Year-to-year differences are also worth noting. There were six sales at this juncture in 2022, compared to 12 recent closings. The average days on market (DOM) has also tightened, from 37 last year to 21 days on market currently. Additionally, the average sales to list ratio has become more competitive, from 96.6 percent a year ago to a very robust 99 percent at the present time. The only figure to show a reversal is the average sales price of $1,961,667 last fall to $1,819,708 this year.

There were 16 homes for sale in Dupont Circle as of this report, with an additional seven that are under contract. Available properties come in a variety of sizes and price points, ranging from four to 12 bedrooms, and from the low seven-figure territory all the way to an asking price of $14,500,000 for the grand Jewett House on S Street. Recent sales range from $1 million to $3,395,000. Given Dupont’s status as a historic district, the vast majority of homes are lovely older buildings with fascinating architectural styles such as Beaux-Arts, Queen Anne, Richardsonian, and Georgian Revival.

For now, the fall season is likely to move ahead at a brisk pace, with a slowdown in the coming winter months. High home prices and a series of interest hikes during the course of the year will add to the traditional seasonal cooldown. On the other hand, the Fed elected not to raise rates again at the September meeting. Regardless of the time of year, there are always opportunities for both sellers and buyers in one of Washington, DC’s most charming and popular neighborhoods.

As always, please feel free to contact me for guidance and advice. As a longtime Dupont homeowner and real estate advisor, I am always happy to share my knowledge of the local community as well as our great city.

Real Estate Market Report

The real estate market in Dupont Circle has continued to rebound throughout the spring and into early summer. The turnaround from winter doldrums and recession fears has been consistent and sustained. Another welcome note is the Fed's decision on June 13 to pause rate hikes for the first in 15 months.

Local market activity continues to trend in a position direction. At the end of May, there were 15 active listings compared to 12 the month before. There were six homes pending or under contract, a sturdy eight closing in May, and an additional four at the end of April. It is also worth pointing out that the average sales price for this period of time is $2,008,792 compared to $1,988,700 from our last report.

In many ways, Dupont Circle can feel like its own small world, a historic neighborhood close to downtown but with a more intimate and leafy appeal. With prices generally starting in the low seven figures, this vibrant enclave has been somewhat insulated from the national housing slump of the last year. The median list price heading into summer is $3,438,333 and the most expensive local property available is the Jewett House, a grand old mansion at 2040 S Street, offered at $14,500,000.

Looking at the year-to-date figures, there have been 23 homes sold, with prices ranging from $1,115,000 to $3,350,000, resulting in an average of $1,955,152. The list to sales price ratio has continued to gain strength, with a median of 97.7 percent. It all adds up to a robust picture for both sellers and buyers alike. Stay cool, and don't hesitate to reach out for real estate advice during the summer heat wave in Dupont Circle.

Real Estate Market Report

The Spring Real Estate Market Report shows sales activity maintaining its recent pace while still lagging behind this same period last year. There were nine closings during the first quarter of 2023 compared to 22 for Q1 of 2022, a decrease of 13 transactions. There are seven properties that are currently under contract, a slight uptick from the six pending transactions in our March 2023 report.

Overall, comparable stats are a mixed bag. The average sales price for Q1 of 2023 is $2,007,556, an increase of 3.7 percent from $1,936,159 for the same time frame last year. The current days on market (DOM) of 18 in an improvement of four days from last year’s 22 DOM. However, the Q1 list-to-sales ratio of 98.9 percent—while still quite healthy—is less than 2022’s 102.66 percent for the same time period. It should be pointed out, however, that last year’s real estate market was especially hot, with a strong appetite for Dupont homes and numerous bidding wars.

It is not hard to see why sales in the neighborhood, the district, and the nation itself, are cooler than last year. There were seven Fed interest hikes in 2022 and one already in 2023. That, combined with overall uncertainty about the economy, continues to have a cooling effect on the real estate landscape. This is in keeping with Fed Chairman Jerome Powell’s stated desire for the housing market to “get back into a balance between supply and demand."

The current Dupont Circle catalog shows a variety of buyer opportunities ranging from a four-bedroom, four-bath home on Swann Street listing for $2,295,000 all the way to the 12-bedroom Jewett House at 2040 S Street NW for $14,500,000. For prospective sellers, there is plenty of room in the Dupont inventory for new listings.

As always, feel free to contact me for more personalized advice about buying or selling a property in our wonderful community.

Real Estate Market Report

Spring is peeking its head out in the nation’s capital and the real estate landscape is starting to thaw. Even so, the combination of multiple Fed interest hikes over the past several months, plus the potential for further raises, continues to have a dampening effect on the DC housing market including Dupont Circle.

The warmer rays of Spring always tend to jumpstart the market and there are some encouraging signs for both sellers and buyers. There were 13 recent closings in Dupont Circle with another six homes currently pending. The average days on market of 23 is certainly beating the national average of 67 for the same time period. Sales prices in Dupont have ranged from $1,225,000 to $3,300,000.

Although the current inventory is low, there’s still a bit of something for everybody. The high end of the market includes two rare free-standing mansions; the 12-bedroom Jewett House for $14,500,000 and the 15-bedroom Swann House for $6,500,000. And while there are some bread and butter listings for those who don’t need 15 bedrooms in the heart of the city, there is definitely room for more.

From the indicators we’ve seen, the 2023 real estate environment seems poised for some version of normalcy. That may mean that sellers won’t enjoy the same spiking prices and bidding frenzy of the early pandemic years, while buyers have to think twice about mortgage rates. But stability also has its place. The low inventory leaves plenty of room for those looking to list their homes, and hopeful buyers will find themselves on more of an even playing field.

As a native Washingtonian and longtime Dupont Circle resident, I have seen all of the market’s ups and downs. Please feel free to reach out for personalized advice about marketing or buying a home in our cherished neighborhood.

Real Estate Market Report

In last month’s report for the Dupont Circle real estate market, we provided a summary for all of 2022. For our February review, we’re taking a look at the current late winter period. Interest rates continue to be part of the picture with the Federal Reserve bumping the numbers another 0.25 percent during its February meeting. Borrower costs are now the highest in 16 years. If there is a bright side, it’s that the increase was lower than previously anticipated, as inflation starts to ease.

As mentioned in prior reports, climbing mortgage rates over the past year had the expected result of cooling housing prices on a national level. That certainly includes the Washington, DC real estate market. Given Dupont Circle’s status as one of the best neighborhoods in DC, buyers and sellers have remained active throughout what has generally been seen as a tamer market than years past. Over the past four months, there have been 16 closings in the neighborhood, and there’s every reason to believe that Spring will bring a heightened level of activity.

The current average list price in Dupont Circle of $3,579,143 is unusually high, the result of an outlier that has been lingering on the market since October. One of Dupont’s grand historic homes, a Georgian Revival at 2040 S Street NW with 12 bedrooms and more than 17,000 square feet of space, is listed at $14,500,000. The stats for the last 16 closings provide a more accurate snapshot, with an average sales price of $1,847,813, and a strong list-to-sales ratio of 97.8 percent. The median of just 20 days on market is also encouraging.

I am honored to be a Dupont Circle realtor, representing the community that I live in and cherish deeply. As always, please feel free to reach out if you need any advice about marketing or purchasing a home in the neighborhood.

Real Estate Market Report

With the New Year upon us, we can look back and get a fuller picture of the real estate market in Dupont Circle in 2022. Despite seven rate hikes by the Fed over the past 12 months, there was a solid level of local sales activity. True, there were fewer closings than the previous year. But it was never reasonable to expect the torrid pace to continue forever, and anti-inflationary measures had their desired effect. Still, Dupont Circle remains an active marketplace as evidenced by a flurry of sales and pending contracts over the final three months of 2022

In total, 63 homes sold in Dupont in 2022, including 12 toward the end of the year. There are three properties still pending from that period that are due to close shortly. The most active time of the year was during the spring, a perennial trend regardless of the economy. There were 27 closings from March through May, followed by seven more in June. The market began to cool at that point but rebounded strongly in October with eight sales.

Market slumps can be a mixed bag. The 63 closings in 2022 are certainly a drop from the 74 sales the previous year, and the average days on market of 27 reflects a slower decision period compared to 20 DOM in 2021. On the other hand, prices have continued to rise, with an average sold price of $1,907,444, a 3.3 percent increase from 2021. It is also worth noting that the 12 most recent transactions were only on the market for 14 days before going under contract, yet another example of an end-of-the-year rally.

As mentioned in previous market reports, Dupont Circle has held up admirably during a national market stagnation, outperforming many other neighborhoods in Washington, DC, and outpacing national trends significantly. I wish you all the best in 2023, and as always, please feel free to reach out for advice about real estate marketing, or information about our beloved neighborhood in general.

Real Estate Market Report

The year-end real estate report for Dupont Circle shows a neighborhood with a surprising amount of sales activity this late in the year. There were nine closings in October and November, and seven of those sold at or above the asking price. It is true that the real estate market is tightening nationally, and we would expect that to have at least some degree of effect locally. Nonetheless, Dupont is ending the year with a burst of energy.

Looking at a snapshot of current active listings, we see that the average list price is $3,026,406. Although that amount is higher than previous months, it’s a skewed median, due to the presence of a $14,500,000 listing at 2040 S Street NW. This 17,000 square foot brick and limestone Georgian Revival home features 12 bedrooms and 7 baths and is a rare example of one of Dupont’s grand old mansions being offered up for sale.

Compared to the misleading average list price, the average fall quarter sales price of $1,777,273 is very representative of where the market is right now in Dupont Circle. Not only are homes selling at a strong list-to-sales ratio, the average time on market for this period was only 10 days. To add further context, our falls quarter sales price average of $1,777,273 outpaced the summer quarter of $1,637,725 but lags the spring and winter quarters of $1,994,000 and $1,848,766 respectively.

The overall takeaway as we close out 2022, is that Fed rate hikes throughout the year have had a predictable effect of cooling the market nationally, and to a somewhat lesser extent in Washington, DC. Meanwhile, Dupont Circle itself has weathered the downturn admirably, as it is a very specific market and not one that caters to entry-level buyers. The recent flurry of activity and a solid list-to-sales ratio, shows that Dupont sellers are displaying reasonable expectations and pricing their properties accurately

I wish you and yours the very best during the holiday season, and as always, feel free to reach out with any questions about the real estate market in our cherished neighborhood.

Real Estate Market Report

The late fall real estate market report in Dupont Circle continues to paint a picture of tightening sales, albeit with a certain stability afforded to a small in-demand neighborhood. Our most recent data continues to be third quarter sales statistics, along with October numbers providing a glimpse into the fourth quarter as well.

There has been a recent uptick in the number of closings, with six in October compared to just two the previous month. Nonetheless, volume still lags significantly in contrast to 2021 which was something of an outlier year with its 70 percent jump in sales over 2020. It is also worth noting that the average sales price of 11 recent closings is $1,637,725 representing a noticeable drop from the previous two quarters of $1,994,000 and $1,848,766 respectively.

Public confidence in the market has been falling recently, as reported in the early fall months by Fannie Mae and Freddie Mac. That won’t be helped by the Fed’s November 2 announcement of a new “jumbo rate” hike of 0.75 percent. This is the fourth consecutive jump with rates expected to top out between 4.5 to 4.75 percent in 2023.

What does this mean for buyers and sellers in Dupont Circle? The bad news is that most mortgage loans in this neighborhood are of the jumbo variety with the current average Dupont asking price hitting $2,769,871. The silver lining is that there is a healthy inventory of available listings at present, with the days on market (DOM) at just 16. In other words, there is still a strong appetite on the part of local home buyers, and there are enough choices to allow room for negotiation.

During this period of market fluctuation, I invite you to reach out with any questions about buying and selling strategy, as well as more general information about our beloved neighborhood.

Real Estate Market Report

Now that we are in the fall months, we are getting a clearer year-to-year picture. The most recent data involves third quarter sales statistics, offering more of a late summer/early fall capsule rather than an exact current time analysis. Regardless, one thing seems apparent. Sales volume in Dupont Circle, as with Washington, DC, and the nation in general, is down.

The most significant stat is the number of closings in Dupont, just five in the third quarter of 2022 compared to 16 in the third quarter of 2021. That is 11 fewer sales. On the other hand, the average sales price is ticking upward, $1,994,000 for the third quarter of 2022 compared to $1,848,766, representing a 7.9 percent increase.

In other words, fewer homes are selling but they are selling for more money. This tracks closely to national trends showing that third quarter prices have risen year-to-year, although not at the same accelerated rate of 2021 compared to 2020. Also, housing inventory has decreased, and fewer buyers are emerging.

To some extent, the picture in Dupont and in Washington mirrors what Fannie Mae and Freddie Mac have been reporting about the national outlook: that public confidence in the market is falling, prompted by rising interest rates, and that the likelihood of buying a home has decreased since the last quarter.

It’s not all doom and gloom, however. Dupont Circle is an upper tier market and not typically a place for first time buyers or bargain hunters. This is evidenced by the current average list price of $2,270,095. Additionally, there is a respectable available inventory. In other words, if you are interested in buying a home in Dupont and are in the position to do so, you will find some very good opportunities. As always, I invite you to reach out with any questions you may have about the state of the market, and whether it’s the right time to buy or sell in Dupont Circle.

Real Estate Market Report

Moving into the fall months for 2022, we’re able to get a better view of how the real estate market in Dupont Circle fared during the traditionally active summer period. We can also start to access whether any meaningful trends will emerge during the closing chapters of the year.

Sales volume in Washington, DC through the first seven months of 2022 was down 14 percent compared to the same period in 2021, reflecting a microcosm of national trends. Dupont Circle itself has shown year-to-year consistency with the overall number of closings, although slowing its most recent pace with seven sales in June, three in July, and just one in August. Is this a future trend indicator? Not necessarily, with three homes having recently gone under contract.

That said, it is unreasonable to expect that the sizzling heat of the market during the pandemic years of 2020 and 2021 would continue indefinitely. Additionally, three recent rate hikes by the Fed with more rumored to follow has predictably cooled the economy to some degree. The housing market is one of the economy’s key drivers.

Despite any national or regional trends, there were 16 closings in Dupont Circle from May through August with an average sales price of $1,703,594 and a hearty ratio of 99.9 percent of the asking price. Additionally, these homes were on the market for an average of just 18 days before going under contract. Putting aside the month of May, the average DOM edges up only slightly to 20 for the three summer months.

As of this writing, asking prices for 11 active listings in Dupont start at $1,099,000 and climb to $4,250,000 for a stately 10-bedroom Grande Dame with 6,256 square feet of living space. All-in-all, the real estate market in our little neighborhood continues to flourish. The inventory may not rival that of the pre-pandemic years but there’s still a lot to choose from. As always, feel free to contact me for any questions or advice as you consider selling or purchasing a home in Dupont Circle.

Real Estate Market Report

With August in the books, we’re able to compare summer months to the year to date. The market has held steady in recent months, with a slight uptick in the number of active listings in August as well as the average list price; $2,434,436 compared to $2,291,633 in July. However, that small price increase was likely the result of one outlier; a five-bedroom home at 1337 21st Street priced at $4,199,000.

Year-to-date, there have been 46 closings in Dupont Circle with an average sales price of $1,933,565. The days on market stat of 31 fits closely with the Y-T-D numbers we saw in our last report. However, the summer months on whole displayed a faster pace with 14 sales and an average of just 14 days on market. The median closing price of $1,830,682 was pulled slightly lower than the Y-T-D figure due to a couple sales right at the seven-figure mark.

The Fed has been raising interest rates in recent months to curb inflation. Those hikes include 25 basis points in March, 75 basis points in June, and an additional 75 in July. It is anticipated that similar increases will occur throughout the remainder of the year. The current prime interest rate of 5.50 percent compared to 3.50 percent in early March is not insignificant. That said, Dupont Circle’s summer sales figures clearly demonstrate that buyers’ appetites remain robust.

Steeped in history and culture, and with a wonderful walkability, Dupont is one of Washington’s true treasures. From lovely architecture to a vibrant diversity of people, it’s a place where community thrives and comes together. Please don’t ever hesitate to reach out to me about neighborhood information or your own real estate needs.

Real Estate Market Report

We’re now at the mid-way point of the year, and in the full heat of summer. It’s been a bit of a zig-zag journey when it comes to real estate inventory in Dupont Circle, starting slowly in January and spiking a couple months later. There were 11 recent sales with another four currently under contract.

July brings another slight dip with nine active listings in the neighborhood. It’s something of a microcosm of the national housing crunch, and perhaps more pronounced in one of Washington’s most desirable neighborhoods. The average asking price for the current listings in Dupont is $2,291,633, ranging from $1,199,900 for a two-bedroom, two-bath rowhouse to $3,750,000 for a grand old five-story home with 11 bedrooms in the heart of the Golden Triangle.

Year-to-date, there have 44 sales with an average closing price of $1,928,786 and 30 days on market. A snapshot of transactions in May and June shows an average price of $1,740,682 and 37 days on market. The slight downward shift shouldn’t be viewed as a meaningful trend, however. It is more a factor of what comes to market during a particular period—a few properties at either end of the price spectrum can really sway the averages.

The Fed raised interest rates in June in an effort to curb inflation and may well put another basis-point hike into effect in July. It is hard to predict whether this will cool down the landscape to any significant degree in our historic Dupont Circle community. It seems more likely that the local market will continue to be driven by individual priorities, such as relocation due to job changes or the desire to either upsize or downsize one’s home.

Overall, the housing inventory in Dupont Circle remains low compared to pre-pandemic levels, with a continued influx of high-paying jobs in the nation’s capital. Our next report will come out in August. Please don’t hesitate to contact me in the interim for more specific information or guidance with your real estate needs.

Real Estate Market Report

The spring market report for Dupont Circle covers the trends for active properties as of the start of May, along with sales data from the tail end of March through April. In that sense, it doesn’t reflect the entire spring season on whole, but it does offer a perspective on the current climate and what might be coming down the pike.

The Fed raised interest rates by a half-point at the beginning of May. It’s the second uptick already this year, and corresponding mortgage hikes could cool the housing market, not only nationwide but here in Washington as well.

The rate increases haven’t yet had a profound effect on the local market, although that could certainly change in the coming months. The average list price for current active properties is $2,447,767, somewhat higher than the winter period. That number is overly influenced, however, by a pricy $3,750,000 listing on 19th Street.

The average sales price for the 11 homes sold from late March through April, stands at $1,945,364 with 50 days on market. This aligns almost exactly with the first quarter sales average of $1,928,545, while the DOM has increased by a noticeable margin. In other words, the dollar figures remain robust, but buyers may be taking longer to decide.

On a personal note, my listing at 1830 S Street is currently pending and due to close shortly. Offered at $1,695,000, the four-story Victorian in the heart of Dupont has been extensively renovated. The home was on market for 26 days before receiving an accepted offer, a significantly faster turnaround then the current average DOM. Strategic marketing helps!

A new report will come out in June, with a fuller picture of the spring months on whole. In the interim, do not hesitate to reach out, for market advice or just to say hello!

Real Estate Market Report

The spring market report for Dupont Circle covers the trends for active properties as of the start of May, along with sales data from the tail end of March through April. In that sense, it doesn’t reflect the entire spring season on whole, but it does offer a perspective on the current climate and what might be coming down the pike.

The Fed raised interest rates by a half-point at the beginning of May. It’s the second uptick already this year, and corresponding mortgage hikes could cool the housing market, not only nationwide but here in Washington as well.

The rate increases haven’t yet had a profound effect on the local market, although that could certainly change in the coming months. The average list price for current active properties is $2,447,767, somewhat higher than the winter period. That number is overly influenced, however, by a pricy $3,750,000 listing on 19th Street.

The average sales price for the 11 homes sold from late March through April, stands at $1,945,364 with 50 days on market. This aligns almost exactly with the first quarter sales average of $1,928,545, while the DOM has increased by a noticeable margin. In other words, the dollar figures remain robust, but buyers may be taking longer to decide.

On a personal note, my listing at 1830 S Street is currently pending and due to close shortly. Offered at $1,695,000, the four-story Victorian in the heart of Dupont has been extensively renovated. The home was on market for 26 days before receiving an accepted offer, a significantly faster turnaround then the current average DOM. Strategic marketing helps!

A new report will come out in June, with a fuller picture of the spring months on whole. In the interim, do not hesitate to reach out, for market advice or just to say hello!