Is U Street Corridor, 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, U Street Corridor has remained a Buyer's Market.
Key Takeaway
U Street Corridor is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in U Street Corridor, DC
How much do homes in U Street Corridor, DC cost?
Median Sold Price
$717,500
$681/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in U Street Corridor have sold for 9.7% less than they did a year ago.
Summary: The median home sold price in U Street Corridor was $717,500 in March 2024, down 9.7% from last year, and the median price per square foot was $681.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $480K | $453K | -5.6% |
| 2 Bedrooms | $795K | $759.5K | -4.5% |
| 3 Bedrooms | $1.1M | $955K | -13.6% |
| 4 Bedrooms | $1.1M | $855K | -28.5% |
| 5+ Bedrooms | - | - | N/A |
Summary: U Street Corridor housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.6%, 2 bedroom homes decreased by 4.5%, 3 bedroom homes decreased by 13.6%, 4 bedroom homes decreased by 28.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Pleasant Plains / LeDroit Park | $737.8K | $730.5K | -1.0% |
| Shaw | $988.5K | $950K | -3.9% |
| Columbia Heights | $698.5K | $654.9K | -6.2% |
| U Street Corridor | $795K | $717.5K | -9.7% |
Housing Supply in U Street Corridor, DC
How many homes are available in U Street Corridor, DC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 123 | 140 | +13.8% |
Summary: The U Street Corridor real estate market had 140 homes for sale in March 2024, a 13.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 39 | 46 | +17.9% |
| 2 Bedrooms | 61 | 68 | +11.5% |
| 3 Bedrooms | 19 | 22 | +15.8% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The U Street Corridor housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 17.9%, 2 bedroom homes increased by 11.5%, 3 bedroom homes increased by 15.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 3 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in U Street Corridor, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in U Street Corridor in March 2024, down by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for U Street Corridor, DC
How long does it take to sell a home in U Street Corridor, DC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 12 Days | 21 Days | +71.1% |
Summary: Homes in U Street Corridor had an average of 21 days on market in Mar 2024, up by 71.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in U Street Corridor are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in U Street Corridor; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
