$5,094 Closing Credit*
$429,000
748 SqFt
1 Bed
•1 Full Bath
Valeriia Solodka, Listing Office: Redfin Corp
Is Penn Quarter, 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, Penn Quarter was a Seller's Market.
Key Takeaway
Penn Quarter is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Penn Quarter, DC
How much do homes in Penn Quarter, DC cost?
Median Sold Price
$475,000
$606/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$25,000(-5.0%)
Key Takeaway
Homes in Penn Quarter have sold for 5% less than they did a year ago.
Summary: The median home sold price in Penn Quarter was $475,000 in November 2024, down 5% from last year, and the median price per square foot was $606.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $470K | $443K | -5.7% |
| 2 Bedrooms | $635K | $715K | +12.6% |
| 3 Bedrooms | $1.1M | $865K | -24.8% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | $1.3M | - | N/A |
Summary: Penn Quarter housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.7%, 2 bedroom homes increased by 12.6%, 3 bedroom homes decreased by 24.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Downtown | $587.6K | $615.5K | +4.7% |
| Downtown / Chinatown / Penn Quarter / Mount Vernon Square | $530K | $545K | +2.8% |
| Penn Quarter | $500K | $475K | -5.0% |
Housing Supply in Penn Quarter, DC
How many homes are available in Penn Quarter, DC?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 22 | 24 | +9.1% |
Summary: The Penn Quarter real estate market had 24 homes for sale in November 2024, a 9.1% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 18 | 19 | +5.6% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 0 | 0 | 0.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Penn Quarter housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.6%, 2 bedroom homes increased by 25%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Penn Quarter, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Penn Quarter in November 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Penn Quarter, DC
How long does it take to sell a home in Penn Quarter, DC?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 25 Days | 19 Days | -24.0% |
Summary: Homes in Penn Quarter had an average of 19 days on market in Nov 2024, down by 24% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Penn Quarter are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 2 homes were sold in Penn Quarter; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
