Is Adams Morgan, 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, Adams Morgan has remained a Buyer's Market.
Key Takeaway
Adams Morgan is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Adams Morgan, DC
How much do homes in Adams Morgan, DC cost?
Median Sold Price
$579,000
$653/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Adams Morgan have sold for 7.3% less than they did a year ago.
Summary: The median home sold price in Adams Morgan was $579,000 in March 2024, down 7.3% from last year, and the median price per square foot was $653.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $384.5K | $370K | -3.8% |
| 2 Bedrooms | $705K | $743K | +5.4% |
| 3 Bedrooms | $1.2M | $992.5K | -17.3% |
| 4 Bedrooms | $1.3M | $1.1M | -12.9% |
| 5+ Bedrooms | $2.1M | $2.1M | -2.3% |
Summary: Adams Morgan housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.8%, 2 bedroom homes increased by 5.4%, 3 bedroom homes decreased by 17.3%, 4 bedroom homes decreased by 12.9%, and 5+ bedroom homes decreased by 2.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Kalorama Triangle | $483.2K | $600K | +24.2% |
| Kalorama | $658.2K | $708K | +7.6% |
| Adams Morgan | $624.7K | $579K | -7.3% |
| Lanier Heights | $510K | $441.2K | -13.5% |
Housing Supply in Adams Morgan, DC
How many homes are available in Adams Morgan, DC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 132 | 150 | +13.6% |
Summary: The Adams Morgan real estate market had 150 homes for sale in March 2024, a 13.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 53 | 53 | 0.0% |
| 2 Bedrooms | 52 | 60 | +15.4% |
| 3 Bedrooms | 16 | 20 | +25.0% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 7 | 11 | +57.1% |
Summary: The Adams Morgan housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 57.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Adams Morgan, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Adams Morgan in March 2024, up by 28.6% month-over-month. Of the 9 sold homes, 56% were sold under asking, 33% were sold at asking, and 11% were sold over asking.
Days on Market for Adams Morgan, DC
How long does it take to sell a home in Adams Morgan, DC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 66 Days | 50 Days | -24.8% |
Summary: Homes in Adams Morgan had an average of 50 days on market in Mar 2024, down by 24.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Adams Morgan are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in Adams Morgan; 44% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
