Is 16th Street Heights, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, 16th Street Heights was a Seller's Market.
Key Takeaway
16th Street Heights is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 16th Street Heights, DC
How much do homes in 16th Street Heights, DC cost?
Median Sold Price
$751,750
$445/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in 16th Street Heights has remained the same since last year.
Summary: The median home sold price in 16th Street Heights was $751,750 in May 2024, up 0.2% from last year, and the median price per square foot was $445.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $306.4K | $322K | +5.1% |
| 2 Bedrooms | $487.4K | $482.4K | -1.0% |
| 3 Bedrooms | $762.4K | $720K | -5.6% |
| 4 Bedrooms | $947.5K | $1.1M | +16.1% |
| 5+ Bedrooms | $1.3M | $1.3M | +3.9% |
Summary: 16th Street Heights housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.1%, 2 bedroom homes decreased by 1%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes increased by 3.9%.
Median Sold Price Compared To Nearby Neighborhoods
| Petworth | $775K | $777K | 0.3% |
| 16th Street Heights | $750K | $751.7K | 0.2% |
| Brightwood Park / Crestwood / Petworth / 16th Street Heights | $764K | $730K | -4.5% |
| Brightwood Park | $725K | $545K | -24.8% |
Housing Supply in 16th Street Heights, DC
How many homes are available in 16th Street Heights, DC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 96 | 133 | +38.5% |
Summary: The 16th Street Heights real estate market had 133 homes for sale in May 2024, a 38.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 26 | +62.5% |
| 2 Bedrooms | 23 | 33 | +43.5% |
| 3 Bedrooms | 17 | 22 | +29.4% |
| 4 Bedrooms | 21 | 25 | +19.0% |
| 5+ Bedrooms | 19 | 27 | +42.1% |
Summary: The 16th Street Heights housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 62.5%, 2 bedroom homes increased by 43.5%, 3 bedroom homes increased by 29.4%, 4 bedroom homes increased by 19%, and 5+ bedroom homes increased by 42.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Asking Price vs. Sold Price
3 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 16th Street Heights, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 16th Street Heights in May 2024, up by 14.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.
Days on Market for 16th Street Heights, DC
How long does it take to sell a home in 16th Street Heights, DC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 30 Days | 14 Days | -53.6% |
Summary: Homes in 16th Street Heights had an average of 14 days on market in May 2024, down by 53.6% compared to last year.
Breakdown of Home Sale Times
7 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 16th Street Heights are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in 16th Street Heights; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
