Is Cathedral Heights, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Cathedral Heights was a Seller's Market.
Key Takeaway
Cathedral Heights is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Cathedral Heights, DC
How much do homes in Cathedral Heights, DC cost?
Median Sold Price
$375,000
$429/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Cathedral Heights have sold for 22.7% less than they did a year ago.
Summary: The median home sold price in Cathedral Heights was $375,000 in March 2024, down 22.7% from last year, and the median price per square foot was $429.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $300K | $295K | -1.7% |
| 2 Bedrooms | $647.5K | $620K | -4.2% |
| 3 Bedrooms | $1.1M | $925K | -20.9% |
| 4 Bedrooms | - | $1.9M | N/A |
| 5+ Bedrooms | $2.0M | $2.4M | +17.8% |
Summary: Cathedral Heights housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.7%, 2 bedroom homes decreased by 4.2%, 3 bedroom homes decreased by 20.9%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 17.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Glover Park | $420K | $492.7K | +17.3% |
| Cathedral / McLean Gardens | $529.5K | $510K | -3.7% |
| Cathedral Heights | $485K | $375K | -22.7% |
Housing Supply in Cathedral Heights, DC
How many homes are available in Cathedral Heights, DC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 65 | 71 | +9.2% |
Summary: The Cathedral Heights real estate market had 71 homes for sale in March 2024, a 9.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 37 | 39 | +5.4% |
| 2 Bedrooms | 13 | 15 | +15.4% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Cathedral 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 15.4%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 8 | +60.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cathedral Heights, 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 Cathedral Heights in March 2024, up by 60.0% month-over-month. Of the 8 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Cathedral Heights, DC
How long does it take to sell a home in Cathedral Heights, DC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 38 Days | 29 Days | -24.7% |
Summary: Homes in Cathedral Heights had an average of 29 days on market in Mar 2024, down by 24.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Cathedral Heights are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in Cathedral Heights; 88% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
