Is Adams Morgan, 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, Adams Morgan has remained a Seller's Market.
Key Takeaway
Adams Morgan is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Adams Morgan, DC
How much do homes in Adams Morgan, DC cost?
Median Sold Price
$560,000
$643/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Adams Morgan have sold for 12.5% less than they did a year ago.
Summary: The median home sold price in Adams Morgan was $560,000 in May 2024, down 12.5% from last year, and the median price per square foot was $643.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $429K | $365K | -14.9% |
| 2 Bedrooms | $760K | $722.5K | -4.9% |
| 3 Bedrooms | $1.1M | $1.0M | -2.7% |
| 4 Bedrooms | $1.3M | $1.1M | -11.3% |
| 5+ Bedrooms | $2.9M | $1.8M | -37.0% |
Summary: Adams Morgan housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.9%, 2 bedroom homes decreased by 4.9%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes decreased by 11.3%, and 5+ bedroom homes decreased by 37%.
Median Sold Price Compared To Nearby Neighborhoods
| Kalorama Triangle | $485K | $573.5K | +18.2% |
| Kalorama | $660K | $701K | +6.2% |
| Adams Morgan | $640K | $560K | -12.5% |
| Lanier Heights | $552K | $437.5K | -20.7% |
Housing Supply in Adams Morgan, DC
How many homes are available in Adams Morgan, DC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 73 | 77 | +5.5% |
Summary: The Adams Morgan real estate market had 77 homes for sale in May 2024, a 5.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 28 | 34 | +21.4% |
| 2 Bedrooms | 25 | 26 | +4.0% |
| 3 Bedrooms | 9 | 6 | -33.3% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Adams Morgan housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 21.4%, 2 bedroom homes increased by 4%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 13 | +8.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Adams Morgan, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Adams Morgan in May 2024, up by 8.3% month-over-month. Of the 13 sold homes, 46% were sold under asking, 23% were sold at asking, and 31% were sold over asking.
Days on Market for Adams Morgan, DC
How long does it take to sell a home in Adams Morgan, DC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 27 Days | 35 Days | +27.7% |
Summary: Homes in Adams Morgan had an average of 35 days on market in May 2024, up by 27.7% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Adams Morgan has remained consistent over time.
Summary: During May 2024, 13 homes were sold in Adams Morgan; 46% of homes were sold within 30 days, 54% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
