Is Southwest Waterfront / Fort McNair / Buzzard Point, DC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Southwest Waterfront / Fort McNair / Buzzard Point is a buyer's market

Buyer's
Market

Difference Since November 2023

Since last year, Southwest Waterfront / Fort McNair / Buzzard Point has remained a Buyer's Market.

Key Takeaway

Southwest Waterfront / Fort McNair / Buzzard Point is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Southwest Waterfront / Fort McNair / Buzzard Point, DC

How much do homes in Southwest Waterfront / Fort McNair / Buzzard Point, DC cost?

Median Sold Price

$487,000

$478/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$29,550(+6.5%)

Key Takeaway

Homes in Southwest Waterfront / Fort McNair / Buzzard Point have sold for 6.5% more than they did a year ago.

Summary: The median home sold price in Southwest Waterfront / Fort McNair / Buzzard Point was $487,000 in November 2024, up 6.5% from last year, and the median price per square foot was $478.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $344K$325K
-5.5%
2 $513K$600K
+17.0%
3 $730K$717.5K
-1.7%
4 $1.1M$920K
-22.9%
5+ --
N/A

Summary: Southwest Waterfront / Fort McNair / Buzzard Point housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.5%, 2 bedroom homes increased by 17%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes decreased by 22.9%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Southwest Waterfront / Fort McNair / Buzzard Point
+6.5%
Southwest Waterfront
+3.0%

Housing Supply in Southwest Waterfront / Fort McNair / Buzzard Point, DC

How many homes are available in Southwest Waterfront / Fort McNair / Buzzard Point, DC?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
9893-5.1%

Summary: The Southwest Waterfront / Fort McNair / Buzzard Point real estate market had 93 homes for sale in November 2024, a 5.1% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 4036
-10.0%
2 4342
-2.3%
3 78
+14.3%
4 87
-12.5%
5+ 00
0.0%

Summary: The Southwest Waterfront / Fort McNair / Buzzard Point housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 10%, 2 bedroom homes decreased by 2.3%, 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 2024Nov 2024CHANGE
135-61.5%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Southwest Waterfront / Fort McNair / Buzzard Point, 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 / Fort McNair / Buzzard Point in November 2024, down by 61.5% 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 / Fort McNair / Buzzard Point, DC

How long does it take to sell a home in Southwest Waterfront / Fort McNair / Buzzard Point, DC?

Average Sale Time

Nov 2023Nov 2024CHANGE
19 Days48 Days+153.7%

Summary: Homes in Southwest Waterfront / Fort McNair / Buzzard Point 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Southwest Waterfront / Fort McNair / Buzzard Point are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 5 homes were sold in Southwest Waterfront / Fort McNair / Buzzard Point; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

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