Is Wesley Heights, DC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wesley Heights is a buyer's market

Buyer's
Market

Difference Since February 2023

Since last year, Wesley Heights has remained a Buyer's Market.

Key Takeaway

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

Housing Prices in Wesley Heights, DC

How much do homes in Wesley Heights, DC cost?

Median Sold Price

$942,500

$488/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$225,000(+31.4%)

Key Takeaway

Homes in Wesley Heights have sold for 31.4% more than they did a year ago.

Summary: The median home sold price in Wesley Heights was $942,500 in February 2024, up 31.4% from last year, and the median price per square foot was $488.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $327.5K$350K
+6.9%
2 $685K$815K
+19.0%
3 $950K$1.2M
+31.4%
4 -$2.1M
N/A
5+ $3.5M$3.1M
-10.0%

Summary: Wesley Heights housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.9%, 2 bedroom homes increased by 19%, 3 bedroom homes increased by 31.4%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 10%.

Median Sold Price Compared To Nearby Neighborhoods

Wesley Heights
+31.4%
Palisades / Wesley Heights / Foxhall Crescent / Foxhall Village / Georgetown Reservoir
+13.9%

Housing Supply in Wesley Heights, DC

How many homes are available in Wesley Heights, DC?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
5663+12.5%

Summary: The Wesley Heights real estate market had 63 homes for sale in February 2024, a 12.5% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 1719
+11.8%
2 1014
+40.0%
3 1313
0.0%
4 11
0.0%
5+ 1516
+6.7%

Summary: The Wesley Heights housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.8%, 2 bedroom homes increased by 40%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 6.7%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
71-85.7%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wesley Heights, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Wesley Heights in February 2024, down by 85.7% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Wesley Heights, DC

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

Average Sale Time

Feb 2023Feb 2024CHANGE
122 Days138 Days+12.5%

Summary: Homes in Wesley Heights had an average of 138 days on market in Feb 2024, up by 12.5% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Wesley Heights are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2024, 1 homes were sold in Wesley Heights; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% 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 3 Days Ago

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