Is Petworth, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Petworth was a Seller's Market.
Housing Prices in Petworth, DC
How much do homes in Petworth, DC cost?
Median Sold Price
$777,000
$462/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Petworth was $777,000 in April 2024, down 2.6% from last year, and the median price per square foot was $462.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $212.4K | $314K | +47.8% |
2 Bedrooms | $535K | $530K | -0.9% |
3 Bedrooms | $757.4K | $740K | -2.3% |
4 Bedrooms | $935K | $975K | +4.3% |
5+ Bedrooms | $1.0M | $1.2M | +16.9% |
Summary: Petworth housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.8%, 2 bedroom homes decreased by 0.9%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 16.9%.
Median Sold Price Compared To Nearby Neighborhoods
Petworth | $797.7K | $777K | -2.6% |
Brightwood Park / Crestwood / Petworth / 16th Street Heights | $764K | $740K | -3.1% |
Brightwood Park | $705.3K | $555K | -21.3% |
Housing Supply in Petworth, DC
How many homes are available in Petworth, DC?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
48 | 61 | +27.1% |
Summary: The Petworth real estate market had 61 homes for sale in April 2024, a 27.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 9 | 9 | 0.0% |
3 Bedrooms | 16 | 17 | +6.3% |
4 Bedrooms | 14 | 21 | +50.0% |
5+ Bedrooms | 6 | 11 | +83.3% |
Summary: The Petworth 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 remained the same, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 83.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
12 | 8 | -33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Petworth in April 2024, down by 33.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.
Days on Market for Petworth, DC
How long does it take to sell a home in Petworth, DC?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
15 Days | 44 Days | +180.6% |
Summary: Homes in Petworth had an average of 44 days on market in Apr 2024, up by 180.6% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 8 homes were sold in Petworth; 63% 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.