The Latest Dupont Circle Market Trends

New Year 2024

The New Year in Dupont Circle was welcomed by a mixture of weather from cold to colder. It’s still the winter season, a period in which the real estate market can feel like semi-hibernation. Sales slowed predictably over the last three months with seven closings in October, four in November and three in December. There were two pending sales as of this report, and signs of increased activity in the months ahead as sellers and buyers alike begin to lay plans and consider life’s many transitions. A rebounding economy, and the potential for multiple Fed interest rate cuts offer promise for a strong 2024.

Looking back at the past 12 months, there were 55 sales with an average closing price of $2,001,491, and a competitive 27 days on market (DOM). When it comes to active listings, the average list price is $4,371,583. But that unusually high number is an outlier, due to the 12-bedroom Jewett House, a grand historic mansion currently offered at $14.5 million. With its mixed-use zoning, it’s really not a property that should be used for comparable home values in Dupont Circle. Prices start coming back to earth with roughly a dozen other active listings. Further to that point, sales over the last three months ranged from $1,520,000 to $3,300,000 for an average of $2,103,083, as well as a competitive 23 DOM.

It should also be pointed out that the figures we are citing are for single-family homes and townhouses. The neighborhood also has a healthy number of condominium and cooperative buildings, such as 1745 N, the Chinese Embassy, Dumbarton Place, Northumberland, and many others. Those who may not need the size of a multilevel rowhouse but still want to live in our community, may wish to investigate this broader spectrum of residential buildings, from historic to contemporary.

Regardless of the size, price, or type of property that most speaks to you, Dupont Circle is one of Washington’s most vibrant, diverse, and culturally exciting neighborhoods. It’s leafy and highly walkable, with a strong sense of community, yet just blocks from Downtown DC. All the indicators point to a very active housing market in 2024. These cold winter months are a good time to assess your needs and look ahead. As a native Washingtonian, a longtime Dupont homeowner, and a trusted real estate advisor with 30 years in the game, I can confidently predict that we’re in for a busy year ahead! As always, I invite you to reach out with questions about our wonderful community.