Is Woodridge / Fort Lincoln / Gateway, 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, Woodridge / Fort Lincoln / Gateway was a Seller's Market.
Key Takeaway
Woodridge / Fort Lincoln / Gateway is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Woodridge / Fort Lincoln / Gateway, DC
How much do homes in Woodridge / Fort Lincoln / Gateway, DC cost?
Median Sold Price
$589,500
$301/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Woodridge / Fort Lincoln / Gateway have sold for 9.4% less than they did a year ago.
Summary: The median home sold price in Woodridge / Fort Lincoln / Gateway was $589,500 in May 2024, down 9.4% from last year, and the median price per square foot was $301.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $360K | N/A |
| 2 Bedrooms | $428.1K | $359K | -16.1% |
| 3 Bedrooms | $587.5K | $525K | -10.6% |
| 4 Bedrooms | $799.9K | $725K | -9.4% |
| 5+ Bedrooms | $840K | $894.5K | +6.5% |
Summary: Woodridge / Fort Lincoln / Gateway housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 16.1%, 3 bedroom homes decreased by 10.6%, 4 bedroom homes decreased by 9.4%, and 5+ bedroom homes increased by 6.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Fort Lincoln | $459K | $619.5K | +35.0% |
| Northeast | $625.7K | $609K | -2.7% |
| Woodridge / Fort Lincoln / Gateway | $651K | $589.5K | -9.4% |
| Woodridge | $707.1K | $580K | -18.0% |
Housing Supply in Woodridge / Fort Lincoln / Gateway, DC
How many homes are available in Woodridge / Fort Lincoln / Gateway, DC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 44 | 62 | +40.9% |
Summary: The Woodridge / Fort Lincoln / Gateway real estate market had 62 homes for sale in May 2024, a 40.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 6 | 8 | +33.3% |
| 3 Bedrooms | 14 | 18 | +28.6% |
| 4 Bedrooms | 14 | 19 | +35.7% |
| 5+ Bedrooms | 10 | 16 | +60.0% |
Summary: The Woodridge / Fort Lincoln / Gateway housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 35.7%, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 3 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Woodridge / Fort Lincoln / Gateway, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Woodridge / Fort Lincoln / Gateway in May 2024, down by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Woodridge / Fort Lincoln / Gateway, DC
How long does it take to sell a home in Woodridge / Fort Lincoln / Gateway, DC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 36 Days | 52 Days | +41.8% |
Summary: Homes in Woodridge / Fort Lincoln / Gateway had an average of 52 days on market in May 2024, up by 41.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Woodridge / Fort Lincoln / Gateway are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Woodridge / Fort Lincoln / Gateway; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
