Is Near Southeast, 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, Near Southeast was a Seller's Market.
Key Takeaway
Near Southeast is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Near Southeast, DC
How much do homes in Near Southeast, DC cost?
Median Sold Price
$561,000
$587/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Near Southeast have sold for 22.8% less than they did a year ago.
Summary: The median home sold price in Near Southeast was $561,000 in March 2024, down 22.8% from last year, and the median price per square foot was $587.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $383.7K | $410K | +6.8% |
| 2 Bedrooms | $727K | $623.5K | -14.2% |
| 3 Bedrooms | $1.0M | $1.1M | +7.7% |
| 4 Bedrooms | $1.4M | $1.3M | -12.0% |
| 5+ Bedrooms | - | $1.0M | N/A |
Summary: Near Southeast housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.8%, 2 bedroom homes decreased by 14.2%, 3 bedroom homes increased by 7.7%, 4 bedroom homes decreased by 12%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Capitol Hill | $845.9K | $867.5K | +2.5% |
| Capitol Hill / Lincoln Park | $891K | $855K | -4.0% |
| Near Southeast / Navy Yard | $729K | $625K | -14.3% |
| Near Southeast | $727K | $561K | -22.8% |
Housing Supply in Near Southeast, DC
How many homes are available in Near Southeast, DC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 59 | 63 | +6.8% |
Summary: The Near Southeast real estate market had 63 homes for sale in March 2024, a 6.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 20 | 20 | 0.0% |
| 2 Bedrooms | 25 | 29 | +16.0% |
| 3 Bedrooms | 4 | 3 | -25.0% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Near Southeast 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 16%, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Near Southeast, 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 Near Southeast in March 2024, up by 33.3% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Near Southeast, DC
How long does it take to sell a home in Near Southeast, DC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 62 Days | 54 Days | -11.7% |
Summary: Homes in Near Southeast had an average of 54 days on market in Mar 2024, down by 11.7% compared to last year.
Breakdown of Home Sale Times
2 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 Near Southeast are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in Near Southeast; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
