$5,938 Closing Credit*
$500,000
1,620 SqFt
3 Beds
•1 Full Bath
Raymond J Valentine, Listing Office: Keller Williams Capital Properties
Is North Michigan 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, North Michigan Park was a Seller's Market.
Key Takeaway
North Michigan Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in North Michigan Park, DC
How much do homes in North Michigan Park, DC cost?
Median Sold Price
$568,000
$367/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$142,000(-20.0%)
Key Takeaway
Homes in North Michigan Park have sold for 20% less than they did a year ago.
Summary: The median home sold price in North Michigan Park was $568,000 in October 2024, down 20% from last year, and the median price per square foot was $367.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $485K | $457.5K | -5.7% |
| 3 Bedrooms | $710K | $627.5K | -11.6% |
| 4 Bedrooms | $798K | $735K | -7.9% |
| 5+ Bedrooms | - | $567.5K | N/A |
Summary: North Michigan Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.7%, 3 bedroom homes decreased by 11.6%, 4 bedroom homes decreased by 7.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Lamond Riggs / Queens Chapel / Fort Totten / Pleasant Hill | $564.5K | $575K | +1.9% |
| Michigan Park / University Heights | $601K | $560K | -6.8% |
| Queens Chapel | $648.7K | $594.9K | -8.3% |
| North Michigan Park | $710K | $568K | -20.0% |
Housing Supply in North Michigan Park, DC
How many homes are available in North Michigan Park, DC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 22 | -4.3% |
Summary: The North Michigan Park real estate market had 22 homes for sale in October 2024, a 4.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 14 | 15 | +7.1% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The North Michigan Park 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 decreased by 25%, 3 bedroom homes increased by 7.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 1 | -83.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Michigan Park, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in North Michigan Park in October 2024, down by 83.3% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for North Michigan Park, DC
How long does it take to sell a home in North Michigan Park, DC?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 33 Days | 74 Days | +120.9% |
Summary: Homes in North Michigan Park had an average of 74 days on market in Oct 2024, up by 120.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in North Michigan Park has remained consistent over time.
Summary: During October 2024, 1 homes were sold in North Michigan Park; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
