Washington, DC Real Estate & Homes for Sale

In September 2024, home prices in Washington, DC saw a 2.4% decrease compared to the same period last year, with the median price at $610,000. Homes in the area are taking about the same time to sell as last year, with an average of 55 days on the market, slightly up from 54 days previously. However, the number of homes sold has declined, with 414 sales this September compared to 478 a year ago. This dip in both price and sales volume may indicate a cooling in buyer demand, potentially offering more opportunities for buyers to negotiate in a market that appears to be gradually leveling off.

The Washington, DC housing market is moderately competitive, with homes typically selling in about 46 days. While many properties sell for roughly 1% below the list price, some receive multiple offers, showing steady interest among buyers. Highly desirable homes, or "hot" properties, often sell for about 1% above the list price and go pending in as little as 20 days, highlighting stronger demand for select homes within the market.

Nationally, 3% of homebuyers have shown interest in relocating to Washington, DC from other metropolitan areas. The highest demand comes from Philadelphia, with prospective buyers from New York and Hartford following closely. This trend suggests that Washington, DC is increasingly appealing to out-of-area buyers, especially from nearby cities on the East Coast.