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The Latest Dupont Circle Market Trends

New Listings This Week

New Listings

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Under Contract This Week

Under Contract

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Sold Properties This Week

Sold Properties

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New Condos This Week

New Condos

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Under Contract This Week

Under Contract

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Sold Condos This Week

Sold Condos

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Jeff's Market Insight

Late Spring 2024

Spring is coming to a close in Dupont Circle. The days are getting warmer, the cherry blossoms are in bloom, and it won’t be long before the sweltering summer arrives. The local real estate market is starting to heat up in our neighborhood as well, with a steady uptick showing one home sale in February, two in March, and four in April. There is an even larger surge when it comes to current activity, with 11 homes pending or under contract as of this report.

It is no secret that home sales were sluggish throughout the winter and indeed, during much of 2023. The old adage of “all real estate is local” might reference independent niche markets and neighborhoods, but in fact, it is the national picture and stubbornly high interest rates that have had a trickle down effect. The Fed is currently taking a measured approach, pushing any future cuts until September. While the inflation rate of 3.4 percent in April was significantly better than its high of 9.1 percent in June of 2022, it remains above the objective of 2 percent.

The top sales price for recently sold homes (excluding condos) in Dupont Circle is $2,995,000 and the lowest was a rare fixer-upper that listed for $850,000 before being bid up to $1,040,000. The average current active list price ranges from $3,100,000 to $4,900,000 save for a lone exception of the commercially zoned Jewett House which has lingered since last October, priced at $14,500,000. The average days on market (DOM) has held remarkably steady over the past several months and is currently at 46. The recent list-to-sales ratio has also remained quite solid with the average home selling at just over the full asking price (100.7 percent).

Putting statistics aside, the real estate picture in Dupont Circle appears healthy as we move into peak selling season. While home valuations aren’t spiking rapidly, they are on a gradual rise again. There’s always the question of available inventory, but a spate of new listings in May is yet more positive news. This is a highly desirable neighborhood with leafy streets, top restaurants, lovely historic homes, and a convenient proximity to Downtown DC. As a longtime Dupont homeowner and a trusted real estate advisor, I am always happy to answer any questions you may have. Reach out and let's start a conversation!