$4,738 Closing Credit*
$399,000
960 SqFt
2 Beds
•2 Full Baths, 1 Partial
Shane M Hedges, Listing Office: Compass
Is Brightwood Park, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Brightwood Park was a Seller's Market.
Key Takeaway
Brightwood Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Brightwood Park, DC
How much do homes in Brightwood Park, DC cost?
Median Sold Price
$604,000
$413/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$18,450(-3.0%)
Key Takeaway
Homes in Brightwood Park have sold for 3% less than they did a year ago.
Summary: The median home sold price in Brightwood Park was $604,000 in October 2024, down 3% from last year, and the median price per square foot was $413.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $206.9K | $231.2K | +11.7% |
| 2 Bedrooms | $376.6K | $468.7K | +24.4% |
| 3 Bedrooms | $637.5K | $610K | -4.3% |
| 4 Bedrooms | $845K | $799K | -5.4% |
| 5+ Bedrooms | $1.0M | $961.5K | -8.4% |
Summary: Brightwood Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.7%, 2 bedroom homes increased by 24.4%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 5.4%, and 5+ bedroom homes decreased by 8.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Brightwood | $650K | $695K | +6.9% |
| Petworth | $795.5K | $790.6K | -0.6% |
| Brightwood Park / Crestwood / Petworth / 16th Street Heights | $753.6K | $741.2K | -1.6% |
| Brightwood Park | $622.4K | $604K | -3.0% |
| Manor Park | $750.7K | $642.5K | -14.4% |
Housing Supply in Brightwood Park, DC
How many homes are available in Brightwood Park, DC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 85 | 109 | +28.2% |
Summary: The Brightwood Park real estate market had 109 homes for sale in October 2024, a 28.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 15 | +25.0% |
| 2 Bedrooms | 20 | 27 | +35.0% |
| 3 Bedrooms | 27 | 28 | +3.7% |
| 4 Bedrooms | 21 | 32 | +52.4% |
| 5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Brightwood Park housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 35%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 52.4%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 6 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Brightwood Park, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Brightwood Park in October 2024, the same as the previous month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.
Days on Market for Brightwood Park, DC
How long does it take to sell a home in Brightwood Park, DC?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 35 Days | 87 Days | +142.8% |
Summary: Homes in Brightwood Park had an average of 87 days on market in Oct 2024, up by 142.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Brightwood Park are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 6 homes were sold in Brightwood Park; 17% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
