Is Takoma / Brightwood / Manor Park, 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, Takoma / Brightwood / Manor Park has remained a Buyer's Market.
Key Takeaway
Takoma / Brightwood / Manor Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Takoma / Brightwood / Manor Park, DC
How much do homes in Takoma / Brightwood / Manor Park, DC cost?
Median Sold Price
$660,000
$383/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Takoma / Brightwood / Manor Park have sold for 9.6% less than they did a year ago.
Summary: The median home sold price in Takoma / Brightwood / Manor Park was $660,000 in March 2024, down 9.6% from last year, and the median price per square foot was $383.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $212K | $305K | +43.9% |
| 2 Bedrooms | $510K | $530K | +3.9% |
| 3 Bedrooms | $700K | $660K | -5.7% |
| 4 Bedrooms | $850K | $750.7K | -11.7% |
| 5+ Bedrooms | $900K | $947.5K | +5.3% |
Summary: Takoma / Brightwood / Manor Park housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 43.9%, 2 bedroom homes increased by 3.9%, 3 bedroom homes decreased by 5.7%, 4 bedroom homes decreased by 11.7%, and 5+ bedroom homes increased by 5.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Brightwood | $677K | $655K | -3.2% |
| Takoma / Brightwood / Manor Park | $730K | $660K | -9.6% |
| Takoma | $749K | $670K | -10.5% |
| Manor Park | $844.5K | $670K | -20.7% |
Housing Supply in Takoma / Brightwood / Manor Park, DC
How many homes are available in Takoma / Brightwood / Manor Park, DC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 163 | 173 | +6.1% |
Summary: The Takoma / Brightwood / Manor Park real estate market had 173 homes for sale in March 2024, a 6.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 19 | 20 | +5.3% |
| 2 Bedrooms | 23 | 24 | +4.3% |
| 3 Bedrooms | 44 | 48 | +9.1% |
| 4 Bedrooms | 49 | 52 | +6.1% |
| 5+ Bedrooms | 28 | 29 | +3.6% |
Summary: The Takoma / Brightwood / Manor Park housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.3%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 3.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 5 | -54.5% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Takoma / Brightwood / Manor Park, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Takoma / Brightwood / Manor Park in March 2024, down by 54.5% month-over-month. Of the 5 sold homes, 0% were sold under asking, 40% were sold at asking, and 60% were sold over asking.
Days on Market for Takoma / Brightwood / Manor Park, DC
How long does it take to sell a home in Takoma / Brightwood / Manor Park, DC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 41 Days | 30 Days | -25.8% |
Summary: Homes in Takoma / Brightwood / Manor Park had an average of 30 days on market in Mar 2024, down by 25.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Takoma / Brightwood / Manor Park are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Takoma / Brightwood / Manor Park; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
