Is North Cleveland Park / Forest Hills / Van Ness, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, North Cleveland Park / Forest Hills / Van Ness has remained a Seller's Market.
Key Takeaway
North Cleveland Park / Forest Hills / Van Ness is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in North Cleveland Park / Forest Hills / Van Ness, DC
How much do homes in North Cleveland Park / Forest Hills / Van Ness, DC cost?
Median Sold Price
$720,000
$511/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in North Cleveland Park / Forest Hills / Van Ness have sold for 33.9% less than they did a year ago.
Summary: The median home sold price in North Cleveland Park / Forest Hills / Van Ness was $720,000 in April 2024, down 33.9% from last year, and the median price per square foot was $511.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $320K | $315.8K | -1.3% |
| 2 Bedrooms | $499K | $566.5K | +13.5% |
| 3 Bedrooms | $1.2M | $1.3M | +6.9% |
| 4 Bedrooms | $1.5M | $1.7M | +16.6% |
| 5+ Bedrooms | $2.7M | $2.1M | -21.9% |
Summary: North Cleveland Park / Forest Hills / Van Ness housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.3%, 2 bedroom homes increased by 13.5%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 16.6%, and 5+ bedroom homes decreased by 21.9%.
Median Sold Price Compared To Nearby Neighborhoods
| North Cleveland Park | $1.1M | $1.3M | +17.2% |
| Cleveland Park | $480K | $536.5K | +11.8% |
| Forest Hills | $650K | $560K | -13.8% |
| North Cleveland Park / Forest Hills / Van Ness | $1.0M | $720K | -33.9% |
Housing Supply in North Cleveland Park / Forest Hills / Van Ness, DC
How many homes are available in North Cleveland Park / Forest Hills / Van Ness, DC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 34 | 36 | +5.9% |
Summary: The North Cleveland Park / Forest Hills / Van Ness real estate market had 36 homes for sale in April 2024, a 5.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 9 | 0.0% |
| 2 Bedrooms | 7 | 11 | +57.1% |
| 3 Bedrooms | 2 | 1 | -50.0% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 9 | 7 | -22.2% |
Summary: The North Cleveland Park / Forest Hills / Van Ness 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 increased by 57.1%, 3 bedroom homes decreased by 50%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 22.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 8 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Cleveland Park / Forest Hills / Van Ness, 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 North Cleveland Park / Forest Hills / Van Ness in April 2024, down by 33.3% month-over-month. Of the 8 sold homes, 13% were sold under asking, 38% were sold at asking, and 50% were sold over asking.
Days on Market for North Cleveland Park / Forest Hills / Van Ness, DC
How long does it take to sell a home in North Cleveland Park / Forest Hills / Van Ness, DC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 35 Days | 42 Days | +18.9% |
Summary: Homes in North Cleveland Park / Forest Hills / Van Ness had an average of 42 days on market in Apr 2024, up by 18.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Cleveland Park / Forest Hills / Van Ness are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in North Cleveland Park / Forest Hills / Van Ness; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
