$7,719 Closing Credit*
$650,000
799 SqFt
1 Bed
•1 Full Bath
Matthew C Cummings, Listing Office: McWilliams/Ballard, Inc.
Is Downtown, 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, Downtown was a Buyer's Market.
Key Takeaway
Downtown is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Downtown, DC
How much do homes in Downtown, DC cost?
Median Sold Price
$606,000
$657/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$20,755(+3.5%)
Key Takeaway
Homes in Downtown have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in Downtown was $606,000 in October 2024, up 3.5% from last year, and the median price per square foot was $657.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $439K | $470K | +7.1% |
| 2 Bedrooms | $702.5K | $707K | +0.6% |
| 3 Bedrooms | - | - | N/A |
| 4 Bedrooms | - | $1.0M | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Downtown housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.1%, 2 bedroom homes increased by 0.6%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Downtown / Chinatown / Penn Quarter / Mount Vernon Square | $524.9K | $545K | +3.8% |
| Downtown | $585.2K | $606K | +3.5% |
| Mount Vernon Square | $544.9K | $535K | -1.8% |
| Penn Quarter | $500K | $482.5K | -3.5% |
Housing Supply in Downtown, DC
How many homes are available in Downtown, DC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 37 | 41 | +10.8% |
Summary: The Downtown real estate market had 41 homes for sale in October 2024, a 10.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 17 | +6.3% |
| 2 Bedrooms | 19 | 23 | +21.1% |
| 3 Bedrooms | 1 | 1 | 0.0% |
| 4 Bedrooms | 1 | 0 | -100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Downtown housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.3%, 2 bedroom homes increased by 21.1%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
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 Downtown, 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 Downtown 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 Downtown, DC
How long does it take to sell a home in Downtown, DC?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 70 Days | 60 Days | -14.4% |
Summary: Homes in Downtown had an average of 60 days on market in Oct 2024, down by 14.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Downtown has remained consistent over time.
Summary: During October 2024, 6 homes were sold in Downtown; 33% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
