Is 20002, 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, 20002 has remained a Buyer's Market.
Key Takeaway
20002 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 20002, DC
How much do homes in 20002, DC cost?
Median Sold Price
$700,000
$528/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 20002 have sold for 3.4% less than they did a year ago.
Summary: The median home sold price in 20002 was $700,000 in March 2024, down 3.4% from last year, and the median price per square foot was $528.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $348.7K | $372.4K | +6.8% |
| 2 Bedrooms | $600K | $577.5K | -3.8% |
| 3 Bedrooms | $762.5K | $777.4K | +2.0% |
| 4 Bedrooms | $1.0M | $1.0M | +3.3% |
| 5+ Bedrooms | $1.3M | $1.4M | +11.9% |
Summary: 20002 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.8%, 2 bedroom homes decreased by 3.8%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 11.9%.
Housing Supply in 20002, DC
How many homes are available in 20002, DC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,139 | 1,218 | +6.9% |
Summary: The 20002 real estate market had 1,218 homes for sale in March 2024, a 6.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 189 | 196 | +3.7% |
| 2 Bedrooms | 324 | 350 | +8.0% |
| 3 Bedrooms | 390 | 417 | +6.9% |
| 4 Bedrooms | 169 | 183 | +8.3% |
| 5+ Bedrooms | 67 | 72 | +7.5% |
Summary: The 20002 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.7%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 7.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 58 | 38 | -34.5% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20002, expect to pay close to the asking price. 36.8% of homes here sold near the asking price last month.
Summary: A total of 38 homes were sold or pending in 20002 in March 2024, down by 34.5% month-over-month. Of the 38 sold homes, 34% were sold under asking, 37% were sold at asking, and 29% were sold over asking.
Days on Market for 20002, DC
How long does it take to sell a home in 20002, DC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 32 Days | 50 Days | +58.3% |
Summary: Homes in 20002 had an average of 50 days on market in Mar 2024, up by 58.3% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 20002 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 38 homes were sold in 20002; 63% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
