Are home prices dropping in Washington, DC?

In the D.C. metro, the average sale-to-list-price ratio held steady at 101% of asking price. The D.C. market is showing signs of cooling nonetheless. While the median selling price is up 7% from a year ago, pending sales are down 1.6% and 5.6% of sellers lowered their original asking price.

Where is the cheapest place to live in Washington, DC?

Safe, Affordable Neighborhoods in Washington, DC Adams Morgan. Brookland. Foggy Bottom. Logan Circle. Mount Pleasant. Jul 23, 2024

Is buying a home in DC a good investment?

A Consistent Performer The 2018 and 2019 Emerging Trends in Real Estate reports from PriceWaterhouseCoopers reflect the D.C. and Northern Virginia markets as desirable places to buy , with positive returns highly likely.

How much money do I need to buy a house in DC?

Breaking down the required down payment for buying a home in DC, as per Zillow. To afford the monthly mortgage on the typical home in the D.C. market, a median-income household would need to put $188,087 down – a 33.1% down payment, Zillow says.

Is DC a buyers or sellers market?

Homes tend to sell faster and for a higher price in DC proper, favoring sellers , while ZIP codes on the periphery see relatively longer times on the market, more common price cuts, and larger discrepancy between list price and sale price.

What is the average price of a house in Washington, DC?

$610,163 . The average Washington, DC home value is $610,163, down 1.5% over the past year and goes to pending in around 17 days.

How much money do you need to live comfortably in Washington, DC?

Typical Expenses 1 ADULT 2 ADULTS (1 WORKING) 0 Children 2 Children Required annual income after taxes $42,965 $77,066 Annual taxes $6,748 $10,175 Required annual income before taxes $49,714 $87,240 8 more rows

How much is a downpayment on a $600000 house?

Down Payment -- Your down payment will likely vary from between 3.5 percent of the purchase price, with an FHA-backed loan, to 20 percent. So, for a $600,000 home, you would need to put between $21,000 (3.5 percent) and $120,000 (20 percent) down.

How much income do you need to buy a $1000000 house?

Income Necessary for a $1 Million Home (California) 3.5% DOWN FHA FINANCING: $230,000 per year** 15% DOWN CONVENTIONAL FINANCING: $200,000 per year** 20% DOWN CONVENTIONAL FINANCING: $185,000 per year ** Aug 5, 2022

Will house prices in Washington go down?

In June 2024, 34.7% of homes in Washington sold above list price, down 6.1 points year . There were only 33.3% of homes that had price drops, up from 31.0% of homes in June last year. There was a 100.3% sale-to-list price, down 0.32 points year over year. …

Will rent prices go down in 2024 near Washington, DC.?

(NerdWallet) – An ongoing boom in apartment construction has helped slow down rental inflation — but renters shouldn't expect prices to drop dramatically from their pandemic-padded highs . That means affordability will remain the dominant narrative in rental housing in 2024.

Are rents dropping in DC?

Rental prices have steadily decreased over the last year with that trend continuing into 2024 .

Is Washington, DC. housing expensive?

Washington, DC housing is 140% more expensive than the U.S average , while utilities are about 10% pricier. When it comes to basic necessities such as food and clothing, groceries are around 17% more in Washington, DC than in the rest of the country, while clothing costs around 17% more .

Washington DC Real Estate - Washington DC Homes For Sale

2,629 results

1360 Kenyon St NW APT 1, Washington, DC 20010
COMPASS
$644,900
2 bds
2 ba
1,033 sqft

- Condo for sale
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3008 Stanton Rd SE, Washington, DC 20020
CENTURY 21 NEW MILLENNIUM
$296,000
4 bds
4 ba
1,860 sqft

- Townhouse for sale
34 days on Zillow
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7225 Western Ave NW, Washington, DC 20015
COMPASS
$1,275,000
4 bds
3 ba
3,062 sqft

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3110 Georgia Ave NW #302, Washington, DC 20010
LONG & FOSTER REAL ESTATE, INC.
$399,900
2 bds
1 ba
688 sqft

- Condo for sale
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1025 D St NE, Washington, DC 20002
UNITED REAL ESTATE HOMESOURCE
$1,200,000
3 bds
2 ba
2,103 sqft

- Townhouse for sale
1 day on Zillow
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3208 Volta Pl NW, Washington, DC 20007
MCENEARNEY ASSOCIATES, INC.
$1,899,000
2 bds
3 ba
1,429 sqft

- House for sale
20 days on Zillow
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1421 Chapin St NW APT 32, Washington, DC 20009
LONG & FOSTER REAL ESTATE, INC.
$849,000
2 bds
2 ba
1,112 sqft

- Apartment for sale
1 day on Zillow
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2439 P St NW, Washington, DC 20007
TTR SOTHEBY'S INTERNATIONAL REALTY
$1,275,000
2 bds
2 ba
1,207 sqft

- Townhouse for sale
7 days on Zillow
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3508 Prospect St NW, Washington, DC 20007
WASHINGTON FINE PROPERTIES, LLC
$15,995,000
8 bds
7 ba
9,086 sqft

- House for sale
126 days on Zillow
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The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by BRIGHT through a licensing agreement.Listing information is from various brokers who participate in the Bright MLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2024 Bright MLS, Inc. [Click here for more information](/info/mls-disclaimers/#mls_5632)The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

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Disclaimer: School attendance zone boundaries are supplied by Pitney Bowes and are subject to change. Check with the applicable school district prior to making a decision based on these boundaries.

About the ratings: GreatSchools ratings are based on a comparison of test results for all schools in the state. It is designed to be a starting point to help parents make baseline comparisons, not the only factor in selecting the right school for your family. Learn more

3.5% DOWN FHA FINANCING:	$230,000 per year**
15% DOWN CONVENTIONAL FINANCING:	$200,000 per year**
20% DOWN CONVENTIONAL FINANCING:	$185,000 per year**

Washington DC Real Estate - Washington DC Homes For Sale | Zillow (2024)

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FAQs

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Will rent prices go down in 2024 near Washington, DC.? ›

References

	1 ADULT	2 ADULTS (1 WORKING)
	0 Children	2 Children
Required annual income after taxes	$42,965	$77,066
Annual taxes	$6,748	$10,175
Required annual income before taxes	$49,714	$87,240