Is Southwest, 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, Southwest was a Seller's Market.
Housing Prices in Southwest, DC
How much do homes in Southwest, DC cost?
Median Sold Price
$439,435
$454/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Southwest was $439,435 in April 2024, down 1.5% from last year, and the median price per square foot was $454.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $328.5K | $330.5K | +0.6% |
2 Bedrooms | $510K | $513K | +0.6% |
3 Bedrooms | $491.7K | $535K | +8.8% |
4 Bedrooms | $1.0M | $1.0M | +9.5% |
5+ Bedrooms | - | $449.9K | N/A |
Summary: Southwest housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.6%, 2 bedroom homes increased by 0.6%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
Southwest Waterfront / Fort McNair / Buzzard Point | $475K | $485K | +2.1% |
Southwest | $446K | $439.4K | -1.5% |
Housing Supply in Southwest, DC
How many homes are available in Southwest, DC?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
79 | 119 | +50.6% |
Summary: The Southwest real estate market had 119 homes for sale in April 2024, a 50.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 29 | 45 | +55.2% |
2 Bedrooms | 31 | 43 | +38.7% |
3 Bedrooms | 15 | 23 | +53.3% |
4 Bedrooms | 4 | 8 | +100.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Southwest housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 55.2%, 2 bedroom homes increased by 38.7%, 3 bedroom homes increased by 53.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
7 | 10 | +42.9% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Southwest in April 2024, up by 42.9% month-over-month. Of the 10 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.
Days on Market for Southwest, DC
How long does it take to sell a home in Southwest, DC?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
28 Days | 83 Days | +189.4% |
Summary: Homes in Southwest had an average of 83 days on market in Apr 2024, up by 189.4% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 10 homes were sold in Southwest; 50% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.