Is Downtown / Chinatown / Penn Quarter / Mount Vernon Square, 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, Downtown / Chinatown / Penn Quarter / Mount Vernon Square was a Seller's Market.
Housing Prices in Downtown / Chinatown / Penn Quarter / Mount Vernon Square, DC
How much do homes in Downtown / Chinatown / Penn Quarter / Mount Vernon Square, DC cost?
Median Sold Price
$540,000
$651/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Downtown / Chinatown / Penn Quarter / Mount Vernon Square was $540,000 in April 2024, up 1.4% from last year, and the median price per square foot was $651.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $460K | $464K | +0.9% |
2 Bedrooms | $678K | $667.5K | -1.5% |
3 Bedrooms | $985K | $997.5K | +1.3% |
4 Bedrooms | - | $1.2M | N/A |
5+ Bedrooms | $1.5M | $1.3M | -14.5% |
Summary: Downtown / Chinatown / Penn Quarter / Mount Vernon Square housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.9%, 2 bedroom homes decreased by 1.5%, 3 bedroom homes increased by 1.3%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 14.5%.
Median Sold Price Compared To Nearby Neighborhoods
Mount Vernon Square | $525K | $549.9K | +4.7% |
Downtown / Chinatown / Penn Quarter / Mount Vernon Square | $532.5K | $540K | +1.4% |
Penn Quarter | $520K | $476.5K | -8.4% |
Housing Supply in Downtown / Chinatown / Penn Quarter / Mount Vernon Square, DC
How many homes are available in Downtown / Chinatown / Penn Quarter / Mount Vernon Square, DC?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
84 | 108 | +28.6% |
Summary: The Downtown / Chinatown / Penn Quarter / Mount Vernon Square real estate market had 108 homes for sale in April 2024, a 28.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 52 | 66 | +26.9% |
2 Bedrooms | 30 | 40 | +33.3% |
3 Bedrooms | 1 | 1 | 0.0% |
4 Bedrooms | 1 | 1 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Downtown / Chinatown / Penn Quarter / Mount Vernon Square housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 26.9%, 2 bedroom homes increased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
13 | 14 | +7.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Downtown / Chinatown / Penn Quarter / Mount Vernon Square in April 2024, up by 7.7% month-over-month. Of the 14 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for Downtown / Chinatown / Penn Quarter / Mount Vernon Square, DC
How long does it take to sell a home in Downtown / Chinatown / Penn Quarter / Mount Vernon Square, DC?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
46 Days | 36 Days | -22.1% |
Summary: Homes in Downtown / Chinatown / Penn Quarter / Mount Vernon Square had an average of 36 days on market in Apr 2024, down by 22.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 14 homes were sold in Downtown / Chinatown / Penn Quarter / Mount Vernon Square; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.