The Washington, D.C. Housing Market Report

MARKET REPORT

The State of the Market

Established in 1790, Washington, D.C. is among the most important cities in the world, regarded as a hub of political activity, cultural attractions, and historical significance.

Designed by French engineer Pierre Charles L'Enfant, Washington, D.C. is known for its diverse range of architectural styles, residents and visitors to Washington, D.C. are often struck by the rich history and various influences that have shaped the city’s landscape over time, with neighborhoods such as Georgetown, Capitol Hill, and The Palisades serving as some of its most desirable.

The most expensive home sold in Washington, D.C. for the year ending 2024 was a stunning custom home located on Foxhall Road in the acclaimed Berkley neighborhood.

Deigned by acclaimed custom home builder The Banks Development Co., interior design icon Thomas Pheasant, and landscape architecture firm Arentz Landscape Architects, the 16,000 square foot residence sold in December 2024 for $22.50 Million after 423 days on the market.

In historic Georgetown, a spectacular Federal style town home along Cox’s Row sold in October 2024 for $11.80 Million following a spectacular renovation by legendary modern architect Robert M. Gurney, FAIA and award-winning custom home builders Peterson and Collins.

“As the nation’s capital, Washington, D.C. is among the most important cities the world,” says Byron V. Hughey, Vice President at TTR Sotheby’s International Realty.

“Featuring historic homes, unmatched culture, and some of the nation’s finest schools and universities, Washington, D.C. truly has it all.”

For those seeking to purchase a detached single family home in Washington, D.C., you can expect to pay an average of $599.69 per square foot and an average total sales price of $1.51 Million. Single family homes in Washington, D.C. typically sell in 36 days.

For those seeking detached single family new construction homes in Washington, D.C., options are scarce, with new construction representing only 1% of all residential home sales. For the year ending 2024, the average sale price for a detached new construction single family home in Washington, D.C. was $2.82 Million.

Among the oldest and most dense cities in the United States, raw land in Washington, D.C. is scarce, with only 18 land sales recorded for the year ending 2024 and an average price per acre of $3.46 Million.