Is Mount Vernon Square, 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, Mount Vernon Square has remained a Buyer's Market.
Key Takeaway
Mount Vernon Square is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mount Vernon Square, DC
How much do homes in Mount Vernon Square, DC cost?
Median Sold Price
$540,000
$681/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Mount Vernon Square have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in Mount Vernon Square was $540,000 in March 2024, up 2.9% from last year, and the median price per square foot was $681.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $474.5K | $485.7K | +2.4% |
| 2 Bedrooms | $645K | $642.5K | -0.4% |
| 3 Bedrooms | $1.1M | $997.5K | -11.7% |
| 4 Bedrooms | - | $1.2M | N/A |
| 5+ Bedrooms | $1.5M | $1.3M | -16.1% |
Summary: Mount Vernon Square housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes decreased by 11.7%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 16.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Mount Vernon Square | $525K | $540K | +2.9% |
| Truxton Circle | $740K | $755K | +2.0% |
| Downtown / Chinatown / Penn Quarter / Mount Vernon Square | $549K | $536.2K | -2.3% |
| Shaw | $988.5K | $950K | -3.9% |
Housing Supply in Mount Vernon Square, DC
How many homes are available in Mount Vernon Square, DC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 68 | 69 | +1.5% |
Summary: The Mount Vernon Square real estate market had 69 homes for sale in March 2024, a 1.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 31 | 29 | -6.5% |
| 2 Bedrooms | 35 | 38 | +8.6% |
| 3 Bedrooms | 1 | 1 | 0.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Mount Vernon Square housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 6.5%, 2 bedroom homes increased by 8.6%, 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 |
|---|---|---|
| 6 | 8 | +33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mount Vernon Square, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Mount Vernon Square in March 2024, up by 33.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% were sold over asking.
Days on Market for Mount Vernon Square, DC
How long does it take to sell a home in Mount Vernon Square, DC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 22 Days | 25 Days | +13.1% |
Summary: Homes in Mount Vernon Square had an average of 25 days on market in Mar 2024, up by 13.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Mount Vernon Square are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in Mount Vernon Square; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
