Is Michigan Park, 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, Michigan Park was a Neutral Market.
Key Takeaway
Michigan Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Michigan Park, DC
How much do homes in Michigan Park, DC cost?
Median Sold Price
$608,000
$351/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Michigan Park have sold for 2.7% less than they did a year ago.
Summary: The median home sold price in Michigan Park was $608,000 in April 2024, down 2.7% from last year, and the median price per square foot was $351.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $515K | $611.5K | +18.7% |
| 4 Bedrooms | $680K | $608K | -10.6% |
| 5+ Bedrooms | $899.2K | - | N/A |
Summary: Michigan Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 18.7%, 4 bedroom homes decreased by 10.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Michigan Park / University Heights | $620K | $611.5K | -1.4% |
| Queens Chapel | $639K | $625K | -2.2% |
| Michigan Park | $625K | $608K | -2.7% |
| Lamond Riggs / Queens Chapel / Fort Totten / Pleasant Hill | $597.5K | $570K | -4.6% |
Housing Supply in Michigan Park, DC
How many homes are available in Michigan Park, DC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 11 | +22.2% |
Summary: The Michigan Park real estate market had 11 homes for sale in April 2024, a 22.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Michigan Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
2 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 Michigan Park, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Michigan Park in April 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Michigan Park, DC
How long does it take to sell a home in Michigan Park, DC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 137 Days | 39 Days | -71.0% |
Summary: Homes in Michigan Park had an average of 39 days on market in Apr 2024, down by 71% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Michigan Park has remained consistent over time.
Summary: During April 2024, 3 homes were sold in Michigan Park; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
