Is Southwest Waterfront, 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 Waterfront was a Seller's Market.
Key Takeaway
Southwest Waterfront is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Southwest Waterfront, DC
How much do homes in Southwest Waterfront, DC cost?
Median Sold Price
$450,000
$485/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Southwest Waterfront have sold for 4.3% less than they did a year ago.
Summary: The median home sold price in Southwest Waterfront was $450,000 in April 2024, down 4.3% from last year, and the median price per square foot was $485.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $332K | $330.5K | -0.5% |
| 2 Bedrooms | $513K | $557.5K | +8.7% |
| 3 Bedrooms | $900K | $770K | -14.4% |
| 4 Bedrooms | $1.0M | $1.1M | +13.9% |
| 5+ Bedrooms | - | - | N/A |
Summary: Southwest Waterfront housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.5%, 2 bedroom homes increased by 8.7%, 3 bedroom homes decreased by 14.4%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Capitol Hill | $830K | $875K | +5.4% |
| Southwest Waterfront / Fort McNair / Buzzard Point | $475K | $485K | +2.1% |
| Southwest Waterfront | $470K | $450K | -4.3% |
| Near Southeast / Navy Yard | $725K | $625K | -13.8% |
Housing Supply in Southwest Waterfront, DC
How many homes are available in Southwest Waterfront, DC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 58 | 95 | +63.8% |
Summary: The Southwest Waterfront real estate market had 95 homes for sale in April 2024, a 63.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 26 | 43 | +65.4% |
| 2 Bedrooms | 21 | 33 | +57.1% |
| 3 Bedrooms | 7 | 13 | +85.7% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Southwest Waterfront housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 65.4%, 2 bedroom homes increased by 57.1%, 3 bedroom homes increased by 85.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 10 | +233.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest Waterfront, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Southwest Waterfront in April 2024, up by 233.3% 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 Waterfront, DC
How long does it take to sell a home in Southwest Waterfront, DC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 83 Days | +297.1% |
Summary: Homes in Southwest Waterfront had an average of 83 days on market in Apr 2024, up by 297.1% 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
Key Takeaway
Many homes in Southwest Waterfront are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 10 homes were sold in Southwest Waterfront; 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.
