Is Northeast, 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, Northeast has remained a Buyer's Market.
Key Takeaway
Northeast is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Northeast, DC
How much do homes in Northeast, DC cost?
Median Sold Price
$605,737
$426/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Northeast have sold for 3.8% less than they did a year ago.
Summary: The median home sold price in Northeast was $605,737 in March 2024, down 3.8% from last year, and the median price per square foot was $426.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $340K | $347K | +2.1% |
| 2 Bedrooms | $495.8K | $499.7K | +0.8% |
| 3 Bedrooms | $635.3K | $630K | -0.8% |
| 4 Bedrooms | $827.5K | $849.3K | +2.6% |
| 5+ Bedrooms | $1.0M | $980K | -4.6% |
Summary: Northeast housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.1%, 2 bedroom homes increased by 0.8%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes decreased by 4.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Northeast | $629.5K | $605.7K | -3.8% |
| Woodridge / Fort Lincoln / Gateway | $630K | $599K | -4.9% |
Housing Supply in Northeast, DC
How many homes are available in Northeast, DC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2,008 | 2,126 | +5.9% |
Summary: The Northeast real estate market had 2,126 homes for sale in March 2024, a 5.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 232 | 241 | +3.9% |
| 2 Bedrooms | 532 | 576 | +8.3% |
| 3 Bedrooms | 725 | 750 | +3.4% |
| 4 Bedrooms | 357 | 384 | +7.6% |
| 5+ Bedrooms | 162 | 175 | +8.0% |
Summary: The Northeast housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.9%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 120 | 93 | -22.5% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northeast, you may be able to get a good deal. 43% of homes here sold below asking price last month.
Summary: A total of 93 homes were sold or pending in Northeast in March 2024, down by 22.5% month-over-month. Of the 93 sold homes, 43% were sold under asking, 30% were sold at asking, and 27% were sold over asking.
Days on Market for Northeast, DC
How long does it take to sell a home in Northeast, DC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 44 Days | 45 Days | +1.8% |
Summary: Homes in Northeast had an average of 45 days on market in Mar 2024, up by 1.8% compared to last year.
Breakdown of Home Sale Times
58 Homes Were Sold
Under 30 Days
23 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Northeast are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 93 homes were sold in Northeast; 62% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
