Is Cleveland Park, DC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cleveland Park is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Cleveland Park was a Neutral Market.

Key Takeaway

Cleveland Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

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

+$33,050(+7.1%)

Key Takeaway

Homes in Cleveland Park have sold for 7.1% more than they did a year ago.

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

# BEDSFeb 2023Feb 2024CHANGE
1 $334.7K$322.5K
-3.7%
2 $580K$558.5K
-3.7%
3 $1.3M$847K
-37.4%
4 $1.7M$1.8M
0.4%
5+ $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
+22.8%
Cleveland Park
+7.1%
Northwest
+1.3%
Cathedral / McLean Gardens
-2.5%

Housing Supply in Cleveland Park, DC

How many homes are available in Cleveland Park, DC?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
5965+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

# BEDSJan 2024Feb 2024CHANGE
1 3337
+12.1%
2 46
+50.0%
3 23
+50.0%
4 22
0.0%
5+ 1817
-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 2024Feb 2024CHANGE
32-33.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cleveland Park, you may be able to get a good deal. 50% of homes here sold below asking price last month.

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 2023Feb 2024CHANGE
80 Days72 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

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Cleveland Park has remained consistent over time.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

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