$3,562 Closing Credit*
$299,999
863 SqFt
1 Bed
•1 Full Bath
Toni A Ghazi, Listing Office: Compass
Is Northwest, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Northwest was a Seller's Market.
Key Takeaway
Northwest is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Northwest, DC
How much do homes in Northwest, DC cost?
Median Sold Price
$790,161
$576/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$40,166(+5.4%)
Key Takeaway
Homes in Northwest have sold for 5.4% more than they did a year ago.
Summary: The median home sold price in Northwest was $790,161 in November 2024, up 5.4% from last year, and the median price per square foot was $576.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $398K | $399.9K | 0.5% |
| 2 Bedrooms | $693.2K | $689.8K | -0.5% |
| 3 Bedrooms | $889.2K | $951.2K | +7.0% |
| 4 Bedrooms | $1.2M | $1.3M | +5.6% |
| 5+ Bedrooms | $1.8M | $1.9M | +5.5% |
Summary: Northwest housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.5%, 2 bedroom homes decreased by 0.5%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 5.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Woodley Park | $606.2K | $1.7M | +190.7% |
| Cleveland Park | $480.5K | $590K | +22.8% |
| Northwest | $749.9K | $790.1K | +5.4% |
Housing Supply in Northwest, DC
How many homes are available in Northwest, DC?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1,677 | 1,755 | +4.7% |
Summary: The Northwest real estate market had 1,755 homes for sale in November 2024, a 4.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 409 | 438 | +7.1% |
| 2 Bedrooms | 475 | 496 | +4.4% |
| 3 Bedrooms | 321 | 334 | +4.0% |
| 4 Bedrooms | 249 | 241 | -3.2% |
| 5+ Bedrooms | 223 | 246 | +10.3% |
Summary: The Northwest housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.1%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 4%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes increased by 10.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 320 | 237 | -25.9% |
Asking Price vs. Sold Price
145 Homes Were Sold
Under Asking
40 Homes Were Sold
At Asking
52 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northwest, you may be able to get a good deal. 61.2% of homes here sold below asking price last month.
Summary: A total of 237 homes were sold or pending in Northwest in November 2024, down by 25.9% month-over-month. Of the 237 sold homes, 61% were sold under asking, 17% were sold at asking, and 22% were sold over asking.
Days on Market for Northwest, DC
How long does it take to sell a home in Northwest, DC?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 34 Days | 38 Days | +13.3% |
Summary: Homes in Northwest had an average of 38 days on market in Nov 2024, up by 13.3% compared to last year.
Breakdown of Home Sale Times
147 Homes Were Sold
Under 30 Days
65 Homes Were Sold
In 30 - 90 Days
25 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Northwest are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 237 homes were sold in Northwest; 62% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
