$9,500 Closing Credit*
$800,000
1,203 SqFt
2 Beds
•2 Full Baths
Bryan G Cantio, Listing Office: RE/MAX Allegiance
Is Penn Quarter, 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, 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
$482,500
$614/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$17,500(-3.5%)
Key Takeaway
Homes in Penn Quarter have sold for 3.5% less than they did a year ago.
Summary: The median home sold price in Penn Quarter was $482,500 in October 2024, down 3.5% from last year, and the median price per square foot was $614.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $470K | $444.5K | -5.4% |
| 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 October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.4%, 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 / Chinatown / Penn Quarter / Mount Vernon Square | $524.9K | $545K | +3.8% |
| Downtown | $585.2K | $606K | +3.5% |
| Penn Quarter | $500K | $482.5K | -3.5% |
Housing Supply in Penn Quarter, DC
How many homes are available in Penn Quarter, DC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 24 | 28 | +16.7% |
Summary: The Penn Quarter real estate market had 28 homes for sale in October 2024, a 16.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 19 | 23 | +21.1% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 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 October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 21.1%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Penn Quarter, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in Penn Quarter in October 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 100% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 15 Days | 21 Days | +36.4% |
Summary: Homes in Penn Quarter had an average of 21 days on market in Oct 2024, up by 36.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was 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 October 2024, 2 homes were sold in Penn Quarter; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
