Is Downtown, 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, Downtown has remained a Buyer's Market.
Housing Prices in Downtown, DC
How much do homes in Downtown, DC cost?
Median Sold Price
$637,500
$659/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Downtown was $637,500 in March 2024, up 8.1% from last year, and the median price per square foot was $659.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $449.9K | $441K | -2.0% |
2 Bedrooms | $696.2K | $700K | 0.5% |
3 Bedrooms | - | - | N/A |
4 Bedrooms | - | - | N/A |
5+ Bedrooms | - | - | N/A |
Summary: Downtown housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2%, 2 bedroom homes increased by 0.5%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
Downtown | $590K | $637.5K | +8.1% |
Mount Vernon Square | $525K | $540K | +2.9% |
Downtown / Chinatown / Penn Quarter / Mount Vernon Square | $549K | $536.2K | -2.3% |
Penn Quarter | $522.5K | $475K | -9.1% |
Housing Supply in Downtown, DC
How many homes are available in Downtown, DC?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
85 | 96 | +12.9% |
Summary: The Downtown real estate market had 96 homes for sale in March 2024, a 12.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 44 | 51 | +15.9% |
2 Bedrooms | 35 | 39 | +11.4% |
3 Bedrooms | 0 | 0 | 0.0% |
4 Bedrooms | 6 | 6 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Downtown housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.9%, 2 bedroom homes increased by 11.4%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 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 Downtown in March 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 Downtown, DC
How long does it take to sell a home in Downtown, DC?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
3 Days | 73 Days | +2105.0% |
Summary: Homes in Downtown had an average of 73 days on market in Mar 2024, up by 2105% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 2 homes were sold in Downtown; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.