Is Lanier 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, Lanier Heights was a Neutral Market.
Key Takeaway
Lanier Heights is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lanier Heights, DC
How much do homes in Lanier Heights, DC cost?
Median Sold Price
$441,286
$541/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lanier Heights have sold for 13.5% less than they did a year ago.
Summary: The median home sold price in Lanier Heights was $441,286 in March 2024, down 13.5% from last year, and the median price per square foot was $541.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $364.9K | $335K | -8.2% |
| 2 Bedrooms | $575K | $582K | +1.2% |
| 3 Bedrooms | $1.2M | $832.4K | -33.9% |
| 4 Bedrooms | $1.4M | $1.1M | -18.1% |
| 5+ Bedrooms | $1.6M | - | N/A |
Summary: Lanier Heights housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.2%, 2 bedroom homes increased by 1.2%, 3 bedroom homes decreased by 33.9%, 4 bedroom homes decreased by 18.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Mount Pleasant | $1.0M | $1.0M | +6.6% |
| Northwest | $745.5K | $750.3K | +0.6% |
| Adams Morgan | $624.7K | $579K | -7.3% |
| Lanier Heights | $510K | $441.2K | -13.5% |
Housing Supply in Lanier Heights, DC
How many homes are available in Lanier Heights, DC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 36 | 39 | +8.3% |
Summary: The Lanier Heights real estate market had 39 homes for sale in March 2024, a 8.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 17 | 17 | 0.0% |
| 2 Bedrooms | 9 | 10 | +11.1% |
| 3 Bedrooms | 6 | 7 | +16.7% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Lanier Heights housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lanier Heights, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Lanier Heights in March 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Lanier Heights, DC
How long does it take to sell a home in Lanier Heights, DC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 78 Days | 28 Days | -64.3% |
Summary: Homes in Lanier Heights had an average of 28 days on market in Mar 2024, down by 64.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lanier Heights are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in Lanier Heights; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
