Is Brightwood Park, 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, Brightwood Park was a Seller's Market.
Key Takeaway
Brightwood Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Brightwood Park, DC
How much do homes in Brightwood Park, DC cost?
Median Sold Price
$555,000
$428/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Brightwood Park have sold for 21.3% less than they did a year ago.
Summary: The median home sold price in Brightwood Park was $555,000 in April 2024, down 21.3% from last year, and the median price per square foot was $428.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $224.9K | $254.7K | +13.3% |
| 2 Bedrooms | $389K | $400K | +2.8% |
| 3 Bedrooms | $665K | $624.9K | -6.0% |
| 4 Bedrooms | $840K | $820K | -2.4% |
| 5+ Bedrooms | - | $1.0M | N/A |
Summary: Brightwood Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.3%, 2 bedroom homes increased by 2.8%, 3 bedroom homes decreased by 6%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Brightwood | $664K | $665K | 0.2% |
| Petworth | $797.7K | $777K | -2.6% |
| Brightwood Park / Crestwood / Petworth / 16th Street Heights | $764K | $740K | -3.1% |
| Manor Park | $834.5K | $687.9K | -17.6% |
| Brightwood Park | $705.3K | $555K | -21.3% |
Housing Supply in Brightwood Park, DC
How many homes are available in Brightwood Park, DC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 77 | 98 | +27.3% |
Summary: The Brightwood Park real estate market had 98 homes for sale in April 2024, a 27.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 17 | +30.8% |
| 2 Bedrooms | 22 | 24 | +9.1% |
| 3 Bedrooms | 19 | 25 | +31.6% |
| 4 Bedrooms | 13 | 23 | +76.9% |
| 5+ Bedrooms | 10 | 9 | -10.0% |
Summary: The Brightwood Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 30.8%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 31.6%, 4 bedroom homes increased by 76.9%, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 7 | -12.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Brightwood Park, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Brightwood Park in April 2024, down by 12.5% month-over-month. Of the 7 sold homes, 14% were sold under asking, 29% were sold at asking, and 57% were sold over asking.
Days on Market for Brightwood Park, DC
How long does it take to sell a home in Brightwood Park, DC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 45 Days | 14 Days | -68.5% |
Summary: Homes in Brightwood Park had an average of 14 days on market in Apr 2024, down by 68.5% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Brightwood Park are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in Brightwood Park; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
