$3,549 Closing Credit*
$298,900
617 SqFt
1 Bed
•1 Full Bath
Rachel Miller, Listing Office: Redfin Corp
Is Southwest, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Southwest has remained a Buyer's Market.
Key Takeaway
Southwest is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Southwest, DC
How much do homes in Southwest, DC cost?
Median Sold Price
$425,000
$440/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$14,435(-3.3%)
Key Takeaway
Homes in Southwest have sold for 3.3% less than they did a year ago.
Summary: The median home sold price in Southwest was $425,000 in November 2024, down 3.3% from last year, and the median price per square foot was $440.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $340K | $314.2K | -7.6% |
| 2 Bedrooms | $495K | $547K | +10.5% |
| 3 Bedrooms | $450K | $561.9K | +24.9% |
| 4 Bedrooms | $1.0M | $913.7K | -16.2% |
| 5+ Bedrooms | $449.9K | $364.5K | -19.0% |
Summary: Southwest housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.6%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 24.9%, 4 bedroom homes decreased by 16.2%, and 5+ bedroom homes decreased by 19%.
Median Sold Price Compared To Nearby Neighborhoods
| Southwest Waterfront / Fort McNair / Buzzard Point | $457.4K | $487K | +6.5% |
| Southwest | $439.4K | $425K | -3.3% |
Housing Supply in Southwest, DC
How many homes are available in Southwest, DC?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 117 | 117 | 0.0% |
Summary: The Southwest real estate market had 117 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 41 | 37 | -9.8% |
| 2 Bedrooms | 49 | 48 | -2.0% |
| 3 Bedrooms | 16 | 19 | +18.8% |
| 4 Bedrooms | 11 | 12 | +9.1% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Southwest housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 9.8%, 2 bedroom homes decreased by 2%, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 7 | -53.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest, expect to pay close to the asking price. 57.1% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in Southwest in November 2024, down by 53.3% month-over-month. Of the 7 sold homes, 43% were sold under asking, 57% were sold at asking, and 0% were sold over asking.
Days on Market for Southwest, DC
How long does it take to sell a home in Southwest, DC?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 27 Days | 41 Days | +52.4% |
Summary: Homes in Southwest had an average of 41 days on market in Nov 2024, up by 52.4% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Southwest are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 7 homes were sold in Southwest; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
