Is 20007, DC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 20007 is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 20007 was a Neutral Market.

Key Takeaway

20007 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 20007, DC

How much do homes in 20007, DC cost?

Median Sold Price

$1,299,166

$696/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$127,500(+10.9%)

Key Takeaway

Homes in 20007 have sold for 10.9% more than they did a year ago.

Summary: The median home sold price in 20007 was $1,299,166 in February 2024, up 10.9% from last year, and the median price per square foot was $696.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $362K$374K
+3.3%
2 $701K$875K
+24.8%
3 $1.3M$1.4M
+11.4%
4 $1.8M$1.8M
+1.5%
5+ $2.9M$2.8M
-4.7%

Summary: 20007 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.3%, 2 bedroom homes increased by 24.8%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes decreased by 4.7%.

Median Sold Price Compared To Nearby Zip Codes

22209
+20.1%
20016
+16.5%
20008
+11.9%
20007
+10.9%

Housing Supply in 20007, DC

How many homes are available in 20007, DC?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
264298+12.9%

Summary: The 20007 real estate market had 298 homes for sale in February 2024, a 12.9% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 5362
+17.0%
2 5867
+15.5%
3 6165
+6.6%
4 3944
+12.8%
5+ 5360
+13.2%

Summary: The 20007 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 17%, 2 bedroom homes increased by 15.5%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes increased by 13.2%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2223+4.5%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 20007, you may be able to get a good deal. 52.2% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in 20007 in February 2024, up by 4.5% month-over-month. Of the 23 sold homes, 52% were sold under asking, 22% were sold at asking, and 26% were sold over asking.

Days on Market for 20007, DC

How long does it take to sell a home in 20007, DC?

Average Sale Time

Feb 2023Feb 2024CHANGE
42 Days31 Days-26.1%

Summary: Homes in 20007 had an average of 31 days on market in Feb 2024, down by 26.1% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 20007 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 23 homes were sold in 20007; 65% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

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