Is Brightwood Park / Crestwood / Petworth / 16th Street Heights, 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, Brightwood Park / Crestwood / Petworth / 16th Street Heights has remained a Buyer's Market.
Key Takeaway
Brightwood Park / Crestwood / Petworth / 16th Street Heights is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Brightwood Park / Crestwood / Petworth / 16th Street Heights, DC
How much do homes in Brightwood Park / Crestwood / Petworth / 16th Street Heights, DC cost?
Median Sold Price
$745,000
$442/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Brightwood Park / Crestwood / Petworth / 16th Street Heights have sold for 4.7% less than they did a year ago.
Summary: The median home sold price in Brightwood Park / Crestwood / Petworth / 16th Street Heights was $745,000 in March 2024, down 4.7% from last year, and the median price per square foot was $442.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $278K | $285K | +2.5% |
| 2 Bedrooms | $517.5K | $437.5K | -15.5% |
| 3 Bedrooms | $772K | $725.9K | -6.0% |
| 4 Bedrooms | $925K | $889K | -3.9% |
| 5+ Bedrooms | $1.3M | $1.3M | +4.5% |
Summary: Brightwood Park / Crestwood / Petworth / 16th Street Heights housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.5%, 2 bedroom homes decreased by 15.5%, 3 bedroom homes decreased by 6%, 4 bedroom homes decreased by 3.9%, and 5+ bedroom homes increased by 4.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Petworth | $805K | $781K | -3.0% |
| 16th Street Heights | $774.9K | $750K | -3.2% |
| Brightwood Park / Crestwood / Petworth / 16th Street Heights | $781.6K | $745K | -4.7% |
| Brightwood Park | $720K | $589K | -18.2% |
Housing Supply in Brightwood Park / Crestwood / Petworth / 16th Street Heights, DC
How many homes are available in Brightwood Park / Crestwood / Petworth / 16th Street Heights, DC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 709 | 758 | +6.9% |
Summary: The Brightwood Park / Crestwood / Petworth / 16th Street Heights real estate market had 758 homes for sale in March 2024, a 6.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 92 | 97 | +5.4% |
| 2 Bedrooms | 171 | 185 | +8.2% |
| 3 Bedrooms | 189 | 205 | +8.5% |
| 4 Bedrooms | 175 | 182 | +4.0% |
| 5+ Bedrooms | 82 | 89 | +8.5% |
Summary: The Brightwood Park / Crestwood / Petworth / 16th Street Heights housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.4%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 8.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 24 | 23 | -4.2% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Brightwood Park / Crestwood / Petworth / 16th Street Heights, you may be able to get a good deal. 56.5% of homes here sold below asking price last month.
Summary: A total of 23 homes were sold or pending in Brightwood Park / Crestwood / Petworth / 16th Street Heights in March 2024, down by 4.2% month-over-month. Of the 23 sold homes, 57% were sold under asking, 26% were sold at asking, and 17% were sold over asking.
Days on Market for Brightwood Park / Crestwood / Petworth / 16th Street Heights, DC
How long does it take to sell a home in Brightwood Park / Crestwood / Petworth / 16th Street Heights, DC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 39 Days | 33 Days | -16.4% |
Summary: Homes in Brightwood Park / Crestwood / Petworth / 16th Street Heights had an average of 33 days on market in Mar 2024, down by 16.4% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Brightwood Park / Crestwood / Petworth / 16th Street Heights are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 23 homes were sold in Brightwood Park / Crestwood / Petworth / 16th Street Heights; 61% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
