Is Mayfair / Central Northeast, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Mayfair / Central Northeast was a Buyer's Market.
Key Takeaway
Mayfair / Central Northeast is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Mayfair / Central Northeast, DC
How much do homes in Mayfair / Central Northeast, DC cost?
Median Sold Price
$399,300
$259/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Mayfair / Central Northeast have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Mayfair / Central Northeast was $399,300 in April 2024, up 6.5% from last year, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $141.9K | $225K | +58.6% |
| 2 Bedrooms | $340K | $225K | -33.8% |
| 3 Bedrooms | $399.9K | $399.5K | -0.1% |
| 4 Bedrooms | $534K | $495K | -7.3% |
| 5+ Bedrooms | $685K | $600K | -12.4% |
Summary: Mayfair / Central Northeast housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 58.6%, 2 bedroom homes decreased by 33.8%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes decreased by 7.3%, and 5+ bedroom homes decreased by 12.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Central Northeast | $320K | $353.7K | +10.5% |
| Mayfair / Central Northeast | $374.9K | $399.3K | +6.5% |
Housing Supply in Mayfair / Central Northeast, DC
How many homes are available in Mayfair / Central Northeast, DC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 24 | +20.0% |
Summary: The Mayfair / Central Northeast real estate market had 24 homes for sale in April 2024, a 20.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 6 | 10 | +66.7% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Mayfair / Central Northeast housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 66.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 0 | 4 | +100.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mayfair / Central Northeast, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Mayfair / Central Northeast in April 2024, up by 100.0% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Mayfair / Central Northeast, DC
How long does it take to sell a home in Mayfair / Central Northeast, DC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 61 Days | 47 Days | -23.6% |
Summary: Homes in Mayfair / Central Northeast had an average of 47 days on market in Apr 2024, down by 23.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Mayfair / Central Northeast has remained consistent over time.
Summary: During April 2024, 4 homes were sold in Mayfair / Central Northeast; 25% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
