Is Cleveland Park, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Cleveland Park was a Neutral Market.
Housing Prices in Cleveland Park, DC
How much do homes in Cleveland Park, DC cost?
Median Sold Price
$500,000
$524/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Cleveland Park was $500,000 in February 2024, up 7.1% from last year, and the median price per square foot was $524.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $334.7K | $322.5K | -3.7% |
2 Bedrooms | $580K | $558.5K | -3.7% |
3 Bedrooms | $1.3M | $847K | -37.4% |
4 Bedrooms | $1.7M | $1.8M | 0.4% |
5+ Bedrooms | $2.8M | $2.9M | +2.6% |
Summary: Cleveland Park housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.7%, 2 bedroom homes decreased by 3.7%, 3 bedroom homes decreased by 37.4%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 2.6%.
Median Sold Price Compared To Nearby Neighborhoods
Woodley Park | $492.5K | $605K | +22.8% |
Cleveland Park | $466.9K | $500K | +7.1% |
Northwest | $740.3K | $749.8K | +1.3% |
Cathedral / McLean Gardens | $505K | $492.5K | -2.5% |
Housing Supply in Cleveland Park, DC
How many homes are available in Cleveland Park, DC?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
59 | 65 | +10.2% |
Summary: The Cleveland Park real estate market had 65 homes for sale in February 2024, a 10.2% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 33 | 37 | +12.1% |
2 Bedrooms | 4 | 6 | +50.0% |
3 Bedrooms | 2 | 3 | +50.0% |
4 Bedrooms | 2 | 2 | 0.0% |
5+ Bedrooms | 18 | 17 | -5.6% |
Summary: The Cleveland Park housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.1%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 5.6%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
3 | 2 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Cleveland Park in February 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Cleveland Park, DC
How long does it take to sell a home in Cleveland Park, DC?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
80 Days | 72 Days | -9.9% |
Summary: Homes in Cleveland Park had an average of 72 days on market in Feb 2024, down by 9.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During February 2024, 2 homes were sold in Cleveland Park; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.