$10,000 Closing Credit*
$1,820,000
3,312 SqFt
5 Beds
•3 Full Baths, 1 Partial
Kelly K Virbickas, Listing Office: Compass
Is Cathedral / McLean Gardens, 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, Cathedral / McLean Gardens was a Seller's Market.
Key Takeaway
Cathedral / McLean Gardens is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Cathedral / McLean Gardens, DC
How much do homes in Cathedral / McLean Gardens, DC cost?
Median Sold Price
$478,000
$496/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$44,500(-8.5%)
Key Takeaway
Homes in Cathedral / McLean Gardens have sold for 8.5% less than they did a year ago.
Summary: The median home sold price in Cathedral / McLean Gardens was $478,000 in October 2024, down 8.5% from last year, and the median price per square foot was $496.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $320K | $320.7K | 0.2% |
| 2 Bedrooms | $592.5K | $582.5K | -1.7% |
| 3 Bedrooms | $970K | $850K | -12.4% |
| 4 Bedrooms | $810K | $1.9M | +139.1% |
| 5+ Bedrooms | $2.1M | $3.9M | +85.4% |
Summary: Cathedral / McLean Gardens housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.2%, 2 bedroom homes decreased by 1.7%, 3 bedroom homes decreased by 12.4%, 4 bedroom homes increased by 139.1%, and 5+ bedroom homes increased by 85.4%.
Median Sold Price Compared To Nearby Neighborhoods
| McLean Gardens | $525K | $574.4K | +9.4% |
| Northwest | $751K | $779.3K | +3.8% |
| Cathedral / McLean Gardens | $522.5K | $478K | -8.5% |
| Cathedral Heights | $475K | $375K | -21.1% |
Housing Supply in Cathedral / McLean Gardens, DC
How many homes are available in Cathedral / McLean Gardens, DC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 44 | 52 | +18.2% |
Summary: The Cathedral / McLean Gardens real estate market had 52 homes for sale in October 2024, a 18.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 24 | 26 | +8.3% |
| 2 Bedrooms | 12 | 15 | +25.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The Cathedral / McLean Gardens housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Cathedral / McLean Gardens, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in Cathedral / McLean Gardens in October 2024, up by 50.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 67% were sold at asking, and 17% were sold over asking.
Days on Market for Cathedral / McLean Gardens, DC
How long does it take to sell a home in Cathedral / McLean Gardens, DC?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 66 Days | 11 Days | -82.1% |
Summary: Homes in Cathedral / McLean Gardens had an average of 11 days on market in Oct 2024, down by 82.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cathedral / McLean Gardens are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in Cathedral / McLean Gardens; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
