Is Southeast, 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, Southeast was a Seller's Market.
Key Takeaway
Southeast is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Southeast, DC
How much do homes in Southeast, DC cost?
Median Sold Price
$469,858
$317/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Southeast have sold for 4.1% less than they did a year ago.
Summary: The median home sold price in Southeast was $469,858 in April 2024, down 4.1% from last year, and the median price per square foot was $317.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $349.5K | $363.2K | +3.9% |
| 2 Bedrooms | $439.9K | $410.9K | -6.6% |
| 3 Bedrooms | $475K | $464.6K | -2.2% |
| 4 Bedrooms | $575K | $543.4K | -5.5% |
| 5+ Bedrooms | $1.1M | $570K | -49.9% |
Summary: Southeast housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.9%, 2 bedroom homes decreased by 6.6%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes decreased by 5.5%, and 5+ bedroom homes decreased by 49.9%.
Median Sold Price Compared To Nearby Neighborhoods
| Fairlawn | $418.5K | $408K | -2.5% |
| Southeast | $490.1K | $469.8K | -4.1% |
Housing Supply in Southeast, DC
How many homes are available in Southeast, DC?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 479 | 553 | +15.4% |
Summary: The Southeast real estate market had 553 homes for sale in April 2024, a 15.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 52 | 70 | +34.6% |
| 2 Bedrooms | 135 | 159 | +17.8% |
| 3 Bedrooms | 160 | 185 | +15.6% |
| 4 Bedrooms | 97 | 98 | +1.0% |
| 5+ Bedrooms | 35 | 41 | +17.1% |
Summary: The Southeast housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 34.6%, 2 bedroom homes increased by 17.8%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 17.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 81 | 71 | -12.3% |
Asking Price vs. Sold Price
35 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southeast, you may be able to get a good deal. 49.3% of homes here sold below asking price last month.
Summary: A total of 71 homes were sold or pending in Southeast in April 2024, down by 12.3% month-over-month. Of the 71 sold homes, 49% were sold under asking, 28% were sold at asking, and 23% were sold over asking.
Days on Market for Southeast, DC
How long does it take to sell a home in Southeast, DC?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 28 Days | 45 Days | +60.1% |
Summary: Homes in Southeast had an average of 45 days on market in Apr 2024, up by 60.1% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southeast are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 71 homes were sold in Southeast; 59% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
