Washington, D.C. started 2024 with a total of 689 single-family homes on the market, with a median home price of $799,999 and an average price per square foot of $524.15. By the end of the year, inventory had increased to 806 homes on the market (+17%), with a median home price of $839,999.5 (+5%), and an average price per square foot of $505 (-4%).
At the start of 2024, the median days on market (DOM) was 70 days – by the end of the year, median DOM had increased to 98 days.
Washington, D.C. started the year with 37.30% of homes taking a price cut. (For reference, 35% is the national average for price reductions in a "normal" year.) By the end of the year, about 44.79% of homes for sale had taken a price cut.
