Is Washington, DC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Washington is a buyer's market

Buyer's
Market

Difference Since October 2021

At the same time last year, Washington was a Seller's Market.

Key Takeaway

Washington is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

How much do homes in Washington, DC cost?

Median Sold Price

$688,180

$530/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

-$3,836(-0.6%)

Key Takeaway

Homes in Washington have sold for 0.6% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $399.9K$389.7K
-2.5%
2 $622.3K$640K
+2.8%
3 $800K$801.5K
0.2%
4 $1.0M$1.0M
+4.3%
5+ $1.5M$1.7M
+7.6%

Median Sold Price Compared To Nearby Cities

Mount Rainier
+6.9%
Washington
-0.6%
Alexandria
-6.5%

How many homes are available in Washington, DC?

Number of Homes For Sale

Sep 2022Oct 2022%
3,8214,163+9.0%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 853903
+5.9%
2 1,1011,210
+9.9%
3 9581,037
+8.2%
4 597664
+11.2%
5+ 312349
+11.9%

Number of Homes Sold

Sep 2022Oct 2022%
515504-2.1%

Asking Price vs. Sold Price

215 Homes Were Sold
Under Asking

135 Homes Were Sold
At Asking

154 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Washington, you may be able to get a good deal. 42.7% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
25 Days30 Days+18.5%

Breakdown of Home Sale Times

360 Homes Were Sold
Under 30 Days

97 Homes Were Sold
In 30 - 90 Days

47 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Washington are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Washington, DC

Number of homes for sale in Washington, DC real estate market have reached 4,163. Between September 2022 and October 2022, Washington, DC real estate market has seen increase in the number of listings by 9%. Listings spent 30 days on the market in October 2022, and had a median list price of $688,180 during the same period. Real estate listing prices changed between September 2022 and October 2022: the cost of 1 bedroom properties went down by 2.5%, prices of 2 bedrooms properties went up by 2.8%, 3 bedrooms properties prices increased by 0.2%, the cost of 4 bedrooms properties went up by 4.3%, 5 bedrooms properties prices increased by 7.6%. Volume of homes for sale changed: 1 bedroom homes became 5.9% more available, 2 bedrooms homes became 9.9% more available, 3 bedrooms homes became 8.2% more available, the quantity of 4 bedrooms homes went up by 11.2%, the quantity of 5 bedrooms homes went up by 11.9%. While more than 154 listings in Washington, DC in October 2022 were sold above asking price, there were more than 135 listings sold at asking price, and more than 215 were sold below.

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