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 November 2023

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.

Housing Prices in Washington, DC

How much do homes in Washington, DC cost?

Median Sold Price

$676,027

$511/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$12,621(+1.9%)

Key Takeaway

Homes in Washington have sold for 1.9% more than they did a year ago.

Summary: The median home sold price in Washington was $676,027 in November 2024, up 1.9% from last year, and the median price per square foot was $511.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $387.3K$385.3K
-0.5%
2 $619.9K$613.3K
-1.1%
3 $727.8K$726.3K
-0.2%
4 $1.0M$1.0M
+3.0%
5+ $1.6M$1.5M
-3.2%

Summary: Washington housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.5%, 2 bedroom homes decreased by 1.1%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes increased by 3%, and 5+ bedroom homes decreased by 3.2%.

Median Sold Price Compared To Nearby Cities

Alexandria
+7.0%
Mount Rainier
+6.9%
Washington
+1.9%
Chevy Chase Village
-2.8%

Housing Supply in Washington, DC

How many homes are available in Washington, DC?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
3,1653,318+4.8%

Summary: The Washington real estate market had 3,318 homes for sale in November 2024, a 4.8% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 601631
+5.0%
2 904961
+6.3%
3 842863
+2.5%
4 495506
+2.2%
5+ 323357
+10.5%

Summary: The Washington housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 2.5%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 10.5%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
510387-24.1%

Asking Price vs. Sold Price

219 Homes Were Sold
Under Asking

83 Homes Were Sold
At Asking

85 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. 56.6% of homes here sold below asking price last month.

Summary: A total of 387 homes were sold or pending in Washington in November 2024, down by 24.1% month-over-month. Of the 387 sold homes, 57% were sold under asking, 21% were sold at asking, and 22% were sold over asking.

Days on Market for Washington, DC

How long does it take to sell a home in Washington, DC?

Average Sale Time

Nov 2023Nov 2024CHANGE
36 Days43 Days+16.6%

Summary: Homes in Washington had an average of 43 days on market in Nov 2024, up by 16.6% compared to last year.

Breakdown of Home Sale Times

219 Homes Were Sold
Under 30 Days

113 Homes Were Sold
In 30 - 90 Days

55 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.

Summary: During November 2024, 387 homes were sold in Washington; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.

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

Report Updated 5 Days Ago

Newest Listings in Washington, DC

Nearby Markets to Washington, DC

What housing markets are near Washington, DC?

Popular Cities with Homes for Sale in District of Columbia