$10,000 Closing Credit*
$1,250,000
1,320 SqFt
3 Beds
•1 Full Bath, 1 Partial
Carolyn Schafer, Listing Office: Long & Foster Real Estate, Inc.
Is Palisades, 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, Palisades has remained a Seller's Market.
Key Takeaway
Palisades is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palisades, DC
How much do homes in Palisades, DC cost?
Median Sold Price
$1,309,280
$545/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$60,720(-4.4%)
Key Takeaway
Homes in Palisades have sold for 4.4% less than they did a year ago.
Summary: The median home sold price in Palisades was $1,309,280 in October 2024, down 4.4% from last year, and the median price per square foot was $545.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $294K | $305K | +3.7% |
| 2 Bedrooms | $849K | $730K | -14.0% |
| 3 Bedrooms | $1.4M | $1.3M | -6.9% |
| 4 Bedrooms | $1.4M | $1.3M | -5.0% |
| 5+ Bedrooms | $2.6M | $3.4M | +27.1% |
Summary: Palisades housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.7%, 2 bedroom homes decreased by 14%, 3 bedroom homes decreased by 6.9%, 4 bedroom homes decreased by 5%, and 5+ bedroom homes increased by 27.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Kent | $1.8M | $2.4M | +31.0% |
| Palisades | $1.3M | $1.3M | -4.4% |
| Palisades / Wesley Heights / Foxhall Crescent / Foxhall Village / Georgetown Reservoir | $1.3M | $1.2M | -7.4% |
Housing Supply in Palisades, DC
How many homes are available in Palisades, DC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 18 | +20.0% |
Summary: The Palisades real estate market had 18 homes for sale in October 2024, a 20.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 2 | 2 | 0.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The Palisades housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 7 | +250.0% |
Asking Price vs. Sold Price
4 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 Palisades, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Palisades in October 2024, up by 250.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.
Days on Market for Palisades, DC
How long does it take to sell a home in Palisades, DC?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 6 Days | 44 Days | +638.1% |
Summary: Homes in Palisades had an average of 44 days on market in Oct 2024, up by 638.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Palisades are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 7 homes were sold in Palisades; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
