Is Petworth, 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, Petworth was a Seller's Market.
Housing Prices in Petworth, DC
How much do homes in Petworth, DC cost?
Median Sold Price
$777,000
$447/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Petworth was $777,000 in May 2024, up 0.3% from last year, and the median price per square foot was $447.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $212.4K | $314K | +47.8% |
2 Bedrooms | $535K | $490K | -8.4% |
3 Bedrooms | $754.9K | $747.5K | -1.0% |
4 Bedrooms | $925K | $950K | +2.7% |
5+ Bedrooms | $1.1M | $1.2M | +15.0% |
Summary: Petworth housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.8%, 2 bedroom homes decreased by 8.4%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 15%.
Median Sold Price Compared To Nearby Neighborhoods
Petworth | $775K | $777K | 0.3% |
Brightwood Park / Crestwood / Petworth / 16th Street Heights | $764K | $730K | -4.5% |
Brightwood Park | $725K | $545K | -24.8% |
Housing Supply in Petworth, DC
How many homes are available in Petworth, DC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
64 | 80 | +25.0% |
Summary: The Petworth real estate market had 80 homes for sale in May 2024, a 25.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 9 | 11 | +22.2% |
3 Bedrooms | 18 | 25 | +38.9% |
4 Bedrooms | 22 | 27 | +22.7% |
5+ Bedrooms | 12 | 14 | +16.7% |
Summary: The Petworth housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 38.9%, 4 bedroom homes increased by 22.7%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 9 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Petworth in May 2024, the same as the previous month. Of the 9 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Petworth, DC
How long does it take to sell a home in Petworth, DC?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
14 Days | 36 Days | +144.9% |
Summary: Homes in Petworth had an average of 36 days on market in May 2024, up by 144.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 9 homes were sold in Petworth; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.