Is Near Southeast / Navy Yard, DC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Near Southeast / Navy Yard is a buyer's market

Buyer's
Market

Difference Since February 2023

Since last year, Near Southeast / Navy Yard has remained a Buyer's Market.

Key Takeaway

Near Southeast / Navy Yard is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Near Southeast / Navy Yard, DC

How much do homes in Near Southeast / Navy Yard, DC cost?

Median Sold Price

$625,000

$625/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$117,000(-15.8%)

Key Takeaway

Homes in Near Southeast / Navy Yard have sold for 15.8% less than they did a year ago.

Summary: The median home sold price in Near Southeast / Navy Yard was $625,000 in February 2024, down 15.8% from last year, and the median price per square foot was $625.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $383.7K$410K
+6.8%
2 $742K$725K
-2.3%
3 $937.5K$1.2M
+34.4%
4 $1.4M$1.3M
-12.0%
5+ -$1.0M
N/A

Summary: Near Southeast / Navy Yard housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.8%, 2 bedroom homes decreased by 2.3%, 3 bedroom homes increased by 34.4%, 4 bedroom homes decreased by 12%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Capitol Hill
-1.2%
Capitol Hill / Lincoln Park
-5.1%
Near Southeast / Navy Yard
-15.8%
Near Southeast
-25.2%

Housing Supply in Near Southeast / Navy Yard, DC

How many homes are available in Near Southeast / Navy Yard, DC?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
8788+1.1%

Summary: The Near Southeast / Navy Yard real estate market had 88 homes for sale in February 2024, a 1.1% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 2830
+7.1%
2 4544
-2.2%
3 44
0.0%
4 99
0.0%
5+ 11
0.0%

Summary: The Near Southeast / Navy Yard housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.1%, 2 bedroom homes decreased by 2.2%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
34+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Near Southeast / Navy Yard, 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 / Navy Yard in February 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 / Navy Yard, DC

How long does it take to sell a home in Near Southeast / Navy Yard, DC?

Average Sale Time

Feb 2023Feb 2024CHANGE
10 Days13 Days+32.5%

Summary: Homes in Near Southeast / Navy Yard had an average of 13 days on market in Feb 2024, up by 32.5% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Near Southeast / Navy Yard are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 4 homes were sold in Near Southeast / Navy Yard; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

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