Is Benning Ridge, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Benning Ridge was a Buyer's Market.
Key Takeaway
Benning Ridge is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Benning Ridge, DC
How much do homes in Benning Ridge, DC cost?
Median Sold Price
$405,500
$286/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Benning Ridge have sold for 4% less than they did a year ago.
Summary: The median home sold price in Benning Ridge was $405,500 in April 2024, down 4% from last year, and the median price per square foot was $286.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $287K | $354.9K | +23.7% |
| 3 Bedrooms | $420K | $406K | -3.3% |
| 4 Bedrooms | $489K | $485K | -0.8% |
| 5+ Bedrooms | - | $596.7K | N/A |
Summary: Benning Ridge housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 23.7%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| River Terrace / Benning / Greenway / Fort Dupont | $417.5K | $405.5K | -2.9% |
| Benning Heights | $445K | $432K | -2.9% |
| Benning Ridge | $422.5K | $405.5K | -4.0% |
Housing Supply in Benning Ridge, DC
How many homes are available in Benning Ridge, DC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 21 | +5.0% |
Summary: The Benning Ridge real estate market had 21 homes for sale in April 2024, a 5.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 13 | 13 | 0.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Benning Ridge housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Benning Ridge, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Benning Ridge in April 2024, up by 66.7% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for Benning Ridge, DC
How long does it take to sell a home in Benning Ridge, DC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 11 Days | 21 Days | +87.8% |
Summary: Homes in Benning Ridge had an average of 21 days on market in Apr 2024, up by 87.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Benning Ridge are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in Benning Ridge; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
