Is Southwest Waterfront / Fort McNair / Buzzard Point, 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 / Fort McNair / Buzzard Point was a Seller's Market.
Key Takeaway
Southwest Waterfront / Fort McNair / Buzzard Point is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Southwest Waterfront / Fort McNair / Buzzard Point, DC
How much do homes in Southwest Waterfront / Fort McNair / Buzzard Point, DC cost?
Median Sold Price
$485,000
$490/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Southwest Waterfront / Fort McNair / Buzzard Point have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in Southwest Waterfront / Fort McNair / Buzzard Point was $485,000 in April 2024, up 2.1% from last year, and the median price per square foot was $490.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $332K | $340K | +2.4% |
| 2 Bedrooms | $533.5K | $565K | +5.9% |
| 3 Bedrooms | $900K | $735.5K | -18.3% |
| 4 Bedrooms | $1.0M | $1.1M | +13.9% |
| 5+ Bedrooms | - | - | N/A |
Summary: Southwest Waterfront / Fort McNair / Buzzard Point housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes increased by 5.9%, 3 bedroom homes decreased by 18.3%, 4 bedroom homes increased by 13.9%, 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 Waterfront | $470K | $450K | -4.3% |
Housing Supply in Southwest Waterfront / Fort McNair / Buzzard Point, DC
How many homes are available in Southwest Waterfront / Fort McNair / Buzzard Point, DC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 62 | 101 | +62.9% |
Summary: The Southwest Waterfront / Fort McNair / Buzzard Point real estate market had 101 homes for sale in April 2024, a 62.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 26 | 45 | +73.1% |
| 2 Bedrooms | 24 | 36 | +50.0% |
| 3 Bedrooms | 8 | 14 | +75.0% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Southwest Waterfront / Fort McNair / Buzzard Point housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 73.1%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 75%, 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 / Fort McNair / Buzzard Point, 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 / Fort McNair / Buzzard Point 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 / Fort McNair / Buzzard Point, DC
How long does it take to sell a home in Southwest Waterfront / Fort McNair / Buzzard Point, DC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 83 Days | +297.1% |
Summary: Homes in Southwest Waterfront / Fort McNair / Buzzard Point 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 / Fort McNair / Buzzard Point are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 10 homes were sold in Southwest Waterfront / Fort McNair / Buzzard Point; 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.
