$3,551 Closing Credit*
$299,000
823 SqFt
1 Bed
•1 Full Bath
Patricia Kennedy, Listing Office: RLAH @properties
Is North Cleveland Park / Forest Hills / Van Ness, 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, North Cleveland Park / Forest Hills / Van Ness has remained a Seller's Market.
Key Takeaway
North Cleveland Park / Forest Hills / Van Ness is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in North Cleveland Park / Forest Hills / Van Ness, DC
How much do homes in North Cleveland Park / Forest Hills / Van Ness, DC cost?
Median Sold Price
$982,500
$515/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$360,000(+57.8%)
Key Takeaway
Homes in North Cleveland Park / Forest Hills / Van Ness have sold for 57.8% more than they did a year ago.
Summary: The median home sold price in North Cleveland Park / Forest Hills / Van Ness was $982,500 in October 2024, up 57.8% from last year, and the median price per square foot was $515.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $322.5K | $295K | -8.5% |
| 2 Bedrooms | $535K | $533K | -0.4% |
| 3 Bedrooms | $1.1M | $1.3M | +22.4% |
| 4 Bedrooms | $1.5M | $1.8M | +16.5% |
| 5+ Bedrooms | $1.9M | $2.3M | +20.0% |
Summary: North Cleveland Park / Forest Hills / Van Ness housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.5%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes increased by 22.4%, 4 bedroom homes increased by 16.5%, and 5+ bedroom homes increased by 20%.
Median Sold Price Compared To Nearby Neighborhoods
| North Cleveland Park / Forest Hills / Van Ness | $622.5K | $982.5K | +57.8% |
| Forest Hills | $536.2K | $635K | +18.4% |
| Cleveland Park | $497.5K | $550K | +10.6% |
| North Cleveland Park | $1.2M | $1.3M | +3.3% |
Housing Supply in North Cleveland Park / Forest Hills / Van Ness, DC
How many homes are available in North Cleveland Park / Forest Hills / Van Ness, DC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 42 | 45 | +7.1% |
Summary: The North Cleveland Park / Forest Hills / Van Ness real estate market had 45 homes for sale in October 2024, a 7.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 15 | 15 | 0.0% |
| 2 Bedrooms | 13 | 14 | +7.7% |
| 3 Bedrooms | 6 | 7 | +16.7% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The North Cleveland Park / Forest Hills / Van Ness housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 12 | +71.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Cleveland Park / Forest Hills / Van Ness, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in North Cleveland Park / Forest Hills / Van Ness in October 2024, up by 71.4% month-over-month. Of the 12 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.
Days on Market for North Cleveland Park / Forest Hills / Van Ness, DC
How long does it take to sell a home in North Cleveland Park / Forest Hills / Van Ness, DC?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 8 Days | 53 Days | +517.3% |
Summary: Homes in North Cleveland Park / Forest Hills / Van Ness had an average of 53 days on market in Oct 2024, up by 517.3% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Cleveland Park / Forest Hills / Van Ness are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 12 homes were sold in North Cleveland Park / Forest Hills / Van Ness; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
