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The housing market in Washington, DC is fairly competitive. On average, homes in Washington, DC receive three offers and typically sell within 43 days. Last month, the median sale price for a home in Washington, DC was $645,000, showing a 1.6% increase from the previous year. Additionally, the median sale price per square foot in Washington, DC is now $514, which has risen by 2.7% over the past year.
Median Sale Price
Median Sale Price per Sq. Ft.
Total Homes Sold
Median Days on Market
In March 2024, home prices in Washington, DC saw a 1.6% increase from the previous year, reaching a median sale price of $645,000. Homes in the area generally sold after 43 days on the market, which is quicker compared to the 48 days observed last year. However, the number of homes sold in March this year decreased to 522, down from 648 sold in the same month last year.
The Washington, DC housing market is moderately competitive. Homes typically sell within 49 days. It's common for some homes to receive multiple offers. On average, homes sell for approximately 1% below the listing price and generally go pending in around 49 days. However, highly sought-after homes, often referred to as "hot homes," can sell for about 1% above the listing price and may go pending in as few as 19 days.
Nationally, 3% of homebuyers looked to relocate to Washington, DC from other metropolitan areas. Among these prospective buyers, those from New York showed the highest interest in moving to Washington, DC, followed by individuals from Atlanta and Hartford. These trends highlight Washington, DC's appeal to residents from diverse urban centers.
Are you considering a move to the vibrant heart of the nation's capital? Whether you're relocating from another city or exploring local options, we're here to provide expert guidance and exclusive listings. Contact us today to uncover the best properties Washington, DC has to offer and get personalized assistance tailored to your needs.