$4,300,000
2,132 SqFt
3 Beds
•3 Full Baths, 1 Partial
Matthew B McCormick, Listing Office: TTR Sotheby's International Realty
Is Southwest Waterfront, 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, Southwest Waterfront was a Seller'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
$485,000
$473/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$39,000(+8.7%)
Key Takeaway
Homes in Southwest Waterfront have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Southwest Waterfront was $485,000 in October 2024, up 8.7% from last year, and the median price per square foot was $473.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $335K | $315K | -6.0% |
| 2 Bedrooms | $506.5K | $600K | +18.5% |
| 3 Bedrooms | $727.7K | $730K | 0.3% |
| 4 Bedrooms | $1.1M | $1.0M | -14.3% |
| 5+ Bedrooms | - | - | N/A |
Summary: Southwest Waterfront housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6%, 2 bedroom homes increased by 18.5%, 3 bedroom homes increased by 0.3%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Capitol Hill | $769K | $960K | +24.8% |
| Southwest Waterfront / Fort McNair / Buzzard Point | $457.4K | $520K | +13.7% |
| Southwest Waterfront | $446K | $485K | +8.7% |
| Near Southeast / Navy Yard | $615K | $607.5K | -1.2% |
Housing Supply in Southwest Waterfront, DC
How many homes are available in Southwest Waterfront, DC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 79 | 92 | +16.5% |
Summary: The Southwest Waterfront real estate market had 92 homes for sale in October 2024, a 16.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 31 | 36 | +16.1% |
| 2 Bedrooms | 33 | 40 | +21.2% |
| 3 Bedrooms | 7 | 8 | +14.3% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Southwest Waterfront housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.1%, 2 bedroom homes increased by 21.2%, 3 bedroom homes increased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 13 | +160.0% |
Asking Price vs. Sold Price
10 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 Southwest Waterfront, you may be able to get a good deal. 76.9% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Southwest Waterfront in October 2024, up by 160.0% month-over-month. Of the 13 sold homes, 77% were sold under asking, 8% were sold at asking, and 15% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 36 Days | 97 Days | +171.4% |
Summary: Homes in Southwest Waterfront had an average of 97 days on market in Oct 2024, up by 171.4% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southwest Waterfront are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 13 homes were sold in Southwest Waterfront; 38% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.
