Is Brightwood Park / Crestwood / Petworth / 16th Street Heights, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Brightwood Park / Crestwood / Petworth / 16th Street Heights was a Seller's Market.
Key Takeaway
Brightwood Park / Crestwood / Petworth / 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 Brightwood Park / Crestwood / Petworth / 16th Street Heights, DC
How much do homes in Brightwood Park / Crestwood / Petworth / 16th Street Heights, DC cost?
Median Sold Price
$740,000
$446/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Brightwood Park / Crestwood / Petworth / 16th Street Heights have sold for 3.1% less than they did a year ago.
Summary: The median home sold price in Brightwood Park / Crestwood / Petworth / 16th Street Heights was $740,000 in April 2024, down 3.1% from last year, and the median price per square foot was $446.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $276.5K | $285K | +3.1% |
| 2 Bedrooms | $530K | $430K | -18.9% |
| 3 Bedrooms | $750K | $721K | -3.9% |
| 4 Bedrooms | $900K | $900K | 0.0% |
| 5+ Bedrooms | $1.3M | $1.3M | 0.0% |
Summary: Brightwood Park / Crestwood / Petworth / 16th Street Heights housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.1%, 2 bedroom homes decreased by 18.9%, 3 bedroom homes decreased by 3.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| 16th Street Heights | $750K | $750K | 0.0% |
| Petworth | $797.7K | $777K | -2.6% |
| Brightwood Park / Crestwood / Petworth / 16th Street Heights | $764K | $740K | -3.1% |
| Crestwood | $1.5M | $1.4M | -5.9% |
| Brightwood Park | $705.3K | $555K | -21.3% |
Housing Supply in Brightwood Park / Crestwood / Petworth / 16th Street Heights, DC
How many homes are available in Brightwood Park / Crestwood / Petworth / 16th Street Heights, DC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 189 | 256 | +35.4% |
Summary: The Brightwood Park / Crestwood / Petworth / 16th Street Heights real estate market had 256 homes for sale in April 2024, a 35.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 25 | 35 | +40.0% |
| 2 Bedrooms | 48 | 56 | +16.7% |
| 3 Bedrooms | 46 | 59 | +28.3% |
| 4 Bedrooms | 42 | 66 | +57.1% |
| 5+ Bedrooms | 28 | 40 | +42.9% |
Summary: The Brightwood Park / Crestwood / Petworth / 16th Street Heights housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 28.3%, 4 bedroom homes increased by 57.1%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 31 | 23 | -25.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Brightwood Park / Crestwood / Petworth / 16th Street Heights, you could pay more than the asking price. 39.1% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in Brightwood Park / Crestwood / Petworth / 16th Street Heights in April 2024, down by 25.8% month-over-month. Of the 23 sold homes, 30% were sold under asking, 30% were sold at asking, and 39% were sold over asking.
Days on Market for Brightwood Park / Crestwood / Petworth / 16th Street Heights, DC
How long does it take to sell a home in Brightwood Park / Crestwood / Petworth / 16th Street Heights, DC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 29 Days | 22 Days | -25.2% |
Summary: Homes in Brightwood Park / Crestwood / Petworth / 16th Street Heights had an average of 22 days on market in Apr 2024, down by 25.2% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Brightwood Park / Crestwood / Petworth / 16th Street Heights are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 23 homes were sold in Brightwood Park / Crestwood / Petworth / 16th Street Heights; 78% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
