$9,251 Closing Credit*
$779,000
1,697 SqFt
3 Beds
•2 Full Baths, 2 Partial
Alfred E. Ekuban, Listing Office: Associates Real Estate Investors, LLC
Is Washington, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Washington was a Seller's Market.
Key Takeaway
Washington is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Washington, DC
How much do homes in Washington, DC cost?
Median Sold Price
$676,027
$511/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$12,621(+1.9%)
Key Takeaway
Homes in Washington have sold for 1.9% more than they did a year ago.
Summary: The median home sold price in Washington was $676,027 in November 2024, up 1.9% from last year, and the median price per square foot was $511.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $387.3K | $385.3K | -0.5% |
| 2 Bedrooms | $619.9K | $613.3K | -1.1% |
| 3 Bedrooms | $727.8K | $726.3K | -0.2% |
| 4 Bedrooms | $1.0M | $1.0M | +3.0% |
| 5+ Bedrooms | $1.6M | $1.5M | -3.2% |
Summary: Washington housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.5%, 2 bedroom homes decreased by 1.1%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes increased by 3%, and 5+ bedroom homes decreased by 3.2%.
Median Sold Price Compared To Nearby Cities
| Alexandria | $624.6K | $668.4K | +7.0% |
| Mount Rainier | $495.9K | $530K | +6.9% |
| Washington | $663.4K | $676K | +1.9% |
| Chevy Chase Village | $2.3M | $2.2M | -2.8% |
Housing Supply in Washington, DC
How many homes are available in Washington, DC?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3,165 | 3,318 | +4.8% |
Summary: The Washington real estate market had 3,318 homes for sale in November 2024, a 4.8% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 601 | 631 | +5.0% |
| 2 Bedrooms | 904 | 961 | +6.3% |
| 3 Bedrooms | 842 | 863 | +2.5% |
| 4 Bedrooms | 495 | 506 | +2.2% |
| 5+ Bedrooms | 323 | 357 | +10.5% |
Summary: The Washington housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 2.5%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 10.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 510 | 387 | -24.1% |
Asking Price vs. Sold Price
219 Homes Were Sold
Under Asking
83 Homes Were Sold
At Asking
85 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Washington, you may be able to get a good deal. 56.6% of homes here sold below asking price last month.
Summary: A total of 387 homes were sold or pending in Washington in November 2024, down by 24.1% month-over-month. Of the 387 sold homes, 57% were sold under asking, 21% were sold at asking, and 22% were sold over asking.
Days on Market for Washington, DC
How long does it take to sell a home in Washington, DC?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 36 Days | 43 Days | +16.6% |
Summary: Homes in Washington had an average of 43 days on market in Nov 2024, up by 16.6% compared to last year.
Breakdown of Home Sale Times
219 Homes Were Sold
Under 30 Days
113 Homes Were Sold
In 30 - 90 Days
55 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Washington are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 387 homes were sold in Washington; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
