Is North 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
Since last year, North Michigan Park has remained a Buyer's Market.
Key Takeaway
North Michigan Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in North Michigan Park, DC
How much do homes in North Michigan Park, DC cost?
Median Sold Price
$686,750
$389/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in North Michigan Park have sold for 21.8% more than they did a year ago.
Summary: The median home sold price in North Michigan Park was $686,750 in April 2024, up 21.8% from last year, and the median price per square foot was $389.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $465K | $482.5K | +3.8% |
| 3 Bedrooms | $601K | $695K | +15.6% |
| 4 Bedrooms | $798K | $837.4K | +4.9% |
| 5+ Bedrooms | - | - | N/A |
Summary: North 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 increased by 3.8%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| North Michigan Park | $564K | $686.7K | +21.8% |
| 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 North Michigan Park, DC
How many homes are available in North Michigan Park, DC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 25 | +25.0% |
Summary: The North Michigan Park real estate market had 25 homes for sale in April 2024, a 25.0% 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 | 6 | 3 | -50.0% |
| 3 Bedrooms | 8 | 15 | +87.5% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The North 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 decreased by 50%, 3 bedroom homes increased by 87.5%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 1 | -87.5% |
Asking Price vs. Sold Price
0 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 North Michigan Park, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in North Michigan Park in April 2024, down by 87.5% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for North Michigan Park, DC
How long does it take to sell a home in North Michigan Park, DC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 4 Days | 6 Days | +50.0% |
Summary: Homes in North Michigan Park had an average of 6 days on market in Apr 2024, up by 50% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Michigan Park are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 1 homes were sold in North Michigan Park; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
