Is 20008, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 20008 has remained a Seller's Market.
Key Takeaway
20008 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20008, DC
How much do homes in 20008, DC cost?
Median Sold Price
$640,000
$551/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 20008 have sold for 18% more than they did a year ago.
Summary: The median home sold price in 20008 was $640,000 in May 2024, up 18% from last year, and the median price per square foot was $551.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $375.5K | $365K | -2.8% |
| 2 Bedrooms | $556.7K | $625K | +12.3% |
| 3 Bedrooms | $1.2M | $1.4M | +17.9% |
| 4 Bedrooms | $1.8M | $1.8M | -0.6% |
| 5+ Bedrooms | $2.9M | $2.9M | +0.9% |
Summary: 20008 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.8%, 2 bedroom homes increased by 12.3%, 3 bedroom homes increased by 17.9%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 0.9%.
Housing Supply in 20008, DC
How many homes are available in 20008, DC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 111 | 131 | +18.0% |
Summary: The 20008 real estate market had 131 homes for sale in May 2024, a 18.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 29 | 37 | +27.6% |
| 2 Bedrooms | 29 | 30 | +3.4% |
| 3 Bedrooms | 6 | 10 | +66.7% |
| 4 Bedrooms | 21 | 19 | -9.5% |
| 5+ Bedrooms | 26 | 35 | +34.6% |
Summary: The 20008 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 27.6%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 66.7%, 4 bedroom homes decreased by 9.5%, and 5+ bedroom homes increased by 34.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 27 | +22.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20008, you could pay more than the asking price. 40.7% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in 20008 in May 2024, up by 22.7% month-over-month. Of the 27 sold homes, 26% were sold under asking, 33% were sold at asking, and 41% were sold over asking.
Days on Market for 20008, DC
How long does it take to sell a home in 20008, DC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 26 Days | 30 Days | +13.1% |
Summary: Homes in 20008 had an average of 30 days on market in May 2024, up by 13.1% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 20008 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 27 homes were sold in 20008; 70% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
