$3,549 Closing Credit*
$298,900
617 SqFt
1 Bed
•1 Full Bath
Rachel Miller, Listing Office: Redfin Corp
Is Southwest Waterfront, 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 Waterfront has remained a Buyer's Market.
Key Takeaway
Southwest Waterfront is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Southwest Waterfront, DC
How much do homes in Southwest Waterfront, DC cost?
Median Sold Price
$463,500
$466/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$13,500(+3.0%)
Key Takeaway
Homes in Southwest Waterfront have sold for 3% more than they did a year ago.
Summary: The median home sold price in Southwest Waterfront was $463,500 in November 2024, up 3% from last year, and the median price per square foot was $466.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $340K | $325K | -4.4% |
| 2 Bedrooms | $513K | $590K | +15.0% |
| 3 Bedrooms | $786.5K | $725K | -7.8% |
| 4 Bedrooms | $1.1M | $920K | -22.9% |
| 5+ Bedrooms | - | - | N/A |
Summary: Southwest Waterfront housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.4%, 2 bedroom homes increased by 15%, 3 bedroom homes decreased by 7.8%, 4 bedroom homes decreased by 22.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Capitol Hill | $860K | $983.5K | +14.4% |
| Southwest Waterfront / Fort McNair / Buzzard Point | $457.4K | $487K | +6.5% |
| Southwest Waterfront | $450K | $463.5K | +3.0% |
| Near Southeast / Navy Yard | $620K | $610K | -1.6% |
Housing Supply in Southwest Waterfront, DC
How many homes are available in Southwest Waterfront, DC?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 89 | 84 | -5.6% |
Summary: The Southwest Waterfront real estate market had 84 homes for sale in November 2024, a 5.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 35 | 32 | -8.6% |
| 2 Bedrooms | 39 | 37 | -5.1% |
| 3 Bedrooms | 7 | 8 | +14.3% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Southwest Waterfront housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 8.6%, 2 bedroom homes decreased by 5.1%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 5 | -58.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest Waterfront, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Southwest Waterfront in November 2024, down by 58.3% month-over-month. Of the 5 sold homes, 40% were sold under asking, 60% were sold at asking, and 0% were sold over asking.
Days on Market for Southwest Waterfront, DC
How long does it take to sell a home in Southwest Waterfront, DC?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 19 Days | 48 Days | +153.7% |
Summary: Homes in Southwest Waterfront had an average of 48 days on market in Nov 2024, up by 153.7% compared to last year.
Breakdown of Home Sale Times
3 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 Waterfront are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 5 homes were sold in Southwest Waterfront; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
