Is Columbia Heights, DC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Columbia Heights is a buyer's market

Buyer's
Market

Difference Since February 2023

Since last year, Columbia Heights has remained a Buyer's Market.

Key Takeaway

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

Housing Prices in Columbia Heights, DC

How much do homes in Columbia Heights, DC cost?

Median Sold Price

$678,000

$569/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$21,500(-3.1%)

Key Takeaway

Homes in Columbia Heights have sold for 3.1% less than they did a year ago.

Summary: The median home sold price in Columbia Heights was $678,000 in February 2024, down 3.1% from last year, and the median price per square foot was $569.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $425K$371K
-12.7%
2 $639K$635K
-0.6%
3 $855K$844.9K
-1.2%
4 $1.1M$962.5K
-14.4%
5+ $1.0M$1.2M
+16.9%

Summary: Columbia Heights housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.7%, 2 bedroom homes decreased by 0.6%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes decreased by 14.4%, and 5+ bedroom homes increased by 16.9%.

Median Sold Price Compared To Nearby Neighborhoods

Park View
+9.2%
Columbia Heights / Park View
+3.8%
Columbia Heights
-3.1%
Pleasant Plains
-3.6%
U Street Corridor
-5.6%

Housing Supply in Columbia Heights, DC

How many homes are available in Columbia Heights, DC?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
362387+6.9%

Summary: The Columbia Heights real estate market had 387 homes for sale in February 2024, a 6.9% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 8388
+6.0%
2 127140
+10.2%
3 6567
+3.1%
4 3540
+14.3%
5+ 5252
0.0%

Summary: The Columbia Heights housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6%, 2 bedroom homes increased by 10.2%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1015+50.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Columbia Heights, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in Columbia Heights in February 2024, up by 50.0% month-over-month. Of the 15 sold homes, 67% were sold under asking, 20% were sold at asking, and 13% were sold over asking.

Days on Market for Columbia Heights, DC

How long does it take to sell a home in Columbia Heights, DC?

Average Sale Time

Feb 2023Feb 2024CHANGE
38 Days72 Days+90.1%

Summary: Homes in Columbia Heights had an average of 72 days on market in Feb 2024, up by 90.1% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Columbia Heights are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 15 homes were sold in Columbia Heights; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% 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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