$10,000 Closing Credit*
$975,000
1,800 SqFt
2 Beds
•2 Full Baths
Jane McDonnell, Listing Office: Long & Foster Real Estate, Inc.
Is Cleveland Park, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Cleveland Park has remained a Seller's Market.
Key Takeaway
Cleveland Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cleveland Park, DC
How much do homes in Cleveland Park, DC cost?
Median Sold Price
$550,000
$553/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$52,500(+10.6%)
Key Takeaway
Homes in Cleveland Park have sold for 10.6% more than they did a year ago.
Summary: The median home sold price in Cleveland Park was $550,000 in October 2024, up 10.6% from last year, and the median price per square foot was $553.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $325K | $340K | +4.6% |
| 2 Bedrooms | $580K | $582.5K | 0.4% |
| 3 Bedrooms | $795K | $1.3M | +72.4% |
| 4 Bedrooms | $1.8M | $1.8M | 0.0% |
| 5+ Bedrooms | $2.9M | $3.0M | +4.4% |
Summary: Cleveland Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.6%, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 72.4%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 4.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Woodley Park | $562.5K | $1.7M | +209.3% |
| Cleveland Park | $497.5K | $550K | +10.6% |
| Northwest | $751K | $779.3K | +3.8% |
| Cathedral / McLean Gardens | $522.5K | $478K | -8.5% |
Housing Supply in Cleveland Park, DC
How many homes are available in Cleveland Park, DC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 35 | 36 | +2.9% |
Summary: The Cleveland Park real estate market had 36 homes for sale in October 2024, a 2.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 19 | +35.7% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 2 | 1 | -50.0% |
| 4 Bedrooms | 3 | 1 | -66.7% |
| 5+ Bedrooms | 10 | 8 | -20.0% |
Summary: The Cleveland Park housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 35.7%, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 50%, 4 bedroom homes decreased by 66.7%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 12 | +50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cleveland Park, expect to pay close to the asking price. 41.7% of homes here sold near the asking price last month.
Summary: A total of 12 homes were sold or pending in Cleveland Park in October 2024, up by 50.0% month-over-month. Of the 12 sold homes, 25% were sold under asking, 42% were sold at asking, and 33% were sold over asking.
Days on Market for Cleveland Park, DC
How long does it take to sell a home in Cleveland Park, DC?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 11 Days | 17 Days | +52.8% |
Summary: Homes in Cleveland Park had an average of 17 days on market in Oct 2024, up by 52.8% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cleveland Park are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 12 homes were sold in Cleveland Park; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
