Is 20017, DC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, 20017 was a Seller's Market.
Key Takeaway
20017 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 20017, DC
How much do homes in 20017, DC cost?
Median Sold Price
$640,000
$408/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 20017 have sold for 6.6% less than they did a year ago.
Summary: The median home sold price in 20017 was $640,000 in May 2024, down 6.6% from last year, and the median price per square foot was $408.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $239K | $236K | -1.3% |
| 2 Bedrooms | $425K | $494K | +16.2% |
| 3 Bedrooms | $690K | $696.5K | +0.9% |
| 4 Bedrooms | $849.9K | $866K | +1.9% |
| 5+ Bedrooms | $965K | $1.2M | +30.3% |
Summary: 20017 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.3%, 2 bedroom homes increased by 16.2%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes increased by 30.3%.
Housing Supply in 20017, DC
How many homes are available in 20017, DC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 102 | 122 | +19.6% |
Summary: The 20017 real estate market had 122 homes for sale in May 2024, a 19.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 7 | -12.5% |
| 2 Bedrooms | 14 | 22 | +57.1% |
| 3 Bedrooms | 50 | 61 | +22.0% |
| 4 Bedrooms | 21 | 22 | +4.8% |
| 5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The 20017 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes increased by 57.1%, 3 bedroom homes increased by 22%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 13 | +18.2% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20017, you may be able to get a good deal. 38.5% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in 20017 in May 2024, up by 18.2% month-over-month. Of the 13 sold homes, 38% were sold under asking, 23% were sold at asking, and 38% were sold over asking.
Days on Market for 20017, DC
How long does it take to sell a home in 20017, DC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 50 Days | 23 Days | -53.6% |
Summary: Homes in 20017 had an average of 23 days on market in May 2024, down by 53.6% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 20017 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in 20017; 69% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
