Is U Street Corridor, 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, U Street Corridor was a Seller's Market.
Key Takeaway
U Street Corridor is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in U Street Corridor, DC
How much do homes in U Street Corridor, DC cost?
Median Sold Price
$658,000
$684/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in U Street Corridor have sold for 17.2% less than they did a year ago.
Summary: The median home sold price in U Street Corridor was $658,000 in May 2024, down 17.2% from last year, and the median price per square foot was $684.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $454.5K | $465.4K | +2.4% |
| 2 Bedrooms | $795K | $767.2K | -3.5% |
| 3 Bedrooms | $1.0M | $1.0M | +2.7% |
| 4 Bedrooms | $1.1M | $855K | -28.5% |
| 5+ Bedrooms | - | - | N/A |
Summary: U Street Corridor housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes decreased by 3.5%, 3 bedroom homes increased by 2.7%, 4 bedroom homes decreased by 28.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Pleasant Plains | $704.9K | $712K | +1.0% |
| Pleasant Plains / LeDroit Park | $733.5K | $699K | -4.7% |
| Columbia Heights | $690K | $643.5K | -6.7% |
| Shaw | $975K | $855K | -12.3% |
| U Street Corridor | $795K | $658K | -17.2% |
Housing Supply in U Street Corridor, DC
How many homes are available in U Street Corridor, DC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 58 | 61 | +5.2% |
Summary: The U Street Corridor real estate market had 61 homes for sale in May 2024, a 5.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 22 | 21 | -4.5% |
| 2 Bedrooms | 19 | 23 | +21.1% |
| 3 Bedrooms | 15 | 14 | -6.7% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The U Street Corridor housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 4.5%, 2 bedroom homes increased by 21.1%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in U Street Corridor, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in U Street Corridor in May 2024, down by 28.6% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.
Days on Market for U Street Corridor, DC
How long does it take to sell a home in U Street Corridor, DC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 30 Days | 38 Days | +25.5% |
Summary: Homes in U Street Corridor had an average of 38 days on market in May 2024, up by 25.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in U Street Corridor are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in U Street Corridor; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
