Is 16th Street Heights, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 16th Street Heights has remained a Buyer's Market.
Key Takeaway
16th Street Heights is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 16th Street Heights, DC
How much do homes in 16th Street Heights, DC cost?
Median Sold Price
$750,000
$446/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 16th Street Heights have sold for 3.2% less than they did a year ago.
Summary: The median home sold price in 16th Street Heights was $750,000 in March 2024, down 3.2% from last year, and the median price per square foot was $446.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $287.5K | $340K | +18.3% |
| 2 Bedrooms | $572.4K | $474.9K | -17.0% |
| 3 Bedrooms | $835K | $730K | -12.6% |
| 4 Bedrooms | $1.0M | $1.0M | +4.1% |
| 5+ Bedrooms | $1.1M | $1.3M | +20.3% |
Summary: 16th Street Heights housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.3%, 2 bedroom homes decreased by 17%, 3 bedroom homes decreased by 12.6%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 20.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Petworth | $805K | $781K | -3.0% |
| 16th Street Heights | $774.9K | $750K | -3.2% |
| Brightwood Park / Crestwood / Petworth / 16th Street Heights | $781.6K | $745K | -4.7% |
| Brightwood Park | $720K | $589K | -18.2% |
Housing Supply in 16th Street Heights, DC
How many homes are available in 16th Street Heights, DC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 249 | 269 | +8.0% |
Summary: The 16th Street Heights real estate market had 269 homes for sale in March 2024, a 8.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 40 | 43 | +7.5% |
| 2 Bedrooms | 56 | 59 | +5.4% |
| 3 Bedrooms | 56 | 63 | +12.5% |
| 4 Bedrooms | 53 | 58 | +9.4% |
| 5+ Bedrooms | 44 | 46 | +4.5% |
Summary: The 16th Street Heights housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.5%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 4.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 7 | -12.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 16th Street Heights, expect to pay close to the asking price. 42.9% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in 16th Street Heights in March 2024, down by 12.5% month-over-month. Of the 7 sold homes, 29% were sold under asking, 43% were sold at asking, and 29% were sold over asking.
Days on Market for 16th Street Heights, DC
How long does it take to sell a home in 16th Street Heights, DC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 23 Days | 29 Days | +29.8% |
Summary: Homes in 16th Street Heights had an average of 29 days on market in Mar 2024, up by 29.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 16th Street Heights are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 7 homes were sold in 16th Street Heights; 57% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
