Is Brightwood, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Brightwood has remained a Seller's Market.
Key Takeaway
Brightwood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Brightwood, DC
How much do homes in Brightwood, DC cost?
Median Sold Price
$665,000
$383/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in Brightwood has remained the same since last year.
Summary: The median home sold price in Brightwood was $665,000 in April 2024, up 0.2% from last year, and the median price per square foot was $383.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $195K | $185K | -5.1% |
| 2 Bedrooms | $396.5K | $415K | +4.7% |
| 3 Bedrooms | $664K | $670.5K | +1.0% |
| 4 Bedrooms | $772.5K | $737K | -4.6% |
| 5+ Bedrooms | $1.0M | $777K | -26.0% |
Summary: Brightwood housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.1%, 2 bedroom homes increased by 4.7%, 3 bedroom homes increased by 1%, 4 bedroom homes decreased by 4.6%, and 5+ bedroom homes decreased by 26%.
Median Sold Price Compared To Nearby Neighborhoods
| Brightwood | $664K | $665K | 0.2% |
| Takoma / Brightwood / Manor Park | $725K | $670.5K | -7.5% |
| Takoma | $734.5K | $675.6K | -8.0% |
| Manor Park | $834.5K | $687.9K | -17.6% |
Housing Supply in Brightwood, DC
How many homes are available in Brightwood, DC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 29 | 37 | +27.6% |
Summary: The Brightwood real estate market had 37 homes for sale in April 2024, a 27.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 12 | 17 | +41.7% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 5 | 8 | +60.0% |
Summary: The Brightwood 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 increased by 41.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 8 | +100.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Brightwood, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Brightwood in April 2024, up by 100.0% month-over-month. Of the 8 sold homes, 50% were sold under asking, 13% were sold at asking, and 38% were sold over asking.
Days on Market for Brightwood, DC
How long does it take to sell a home in Brightwood, DC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 30 Days | 11 Days | -62.4% |
Summary: Homes in Brightwood had an average of 11 days on market in Apr 2024, down by 62.4% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Brightwood are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in Brightwood; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
