Washington, DC Real Estate Market

With a median sale price of $2,999,995 and only 200 active listings in the market, sellers in this zip code are operating in a relatively low-supply environment that can support strong pricing. The 41-day median days on market suggests buyers are taking time to evaluate, so pricing strategically from the start will be key to attracting serious offers.

Buyers in the 20016 market should be prepared for significant price variation by bedroom count, ranging from $205,000 for a studio to $4,500,000 for a 7-bedroom home. With a 30-year mortgage rate at 6% and 200 active listings available, there is some selection to work with, though the $657.60 per square foot median means thorough due diligence on value is essential.

With a median rent of $2,791 and 232 rental units currently on the market, the rental landscape in 20016 offers options across a wide range of price points, from $1,695 for a studio up to $9,500 for a 7-bedroom unit. Investors should weigh the high acquisition costs reflected in the $657.60 per square foot median against rental income potential, particularly in the 2 to 4 bedroom range where rents of $4,200 to $6,000 may offer more favorable return profiles.

The current 30-year fixed mortgage rate of 6% and 15-year rate of 5.43% represent a meaningful cost of capital in a high-price market like 20016, where even median-range purchases carry significant loan balances. Buyers who can qualify for the 15-year term at 5.43% may find long-term interest savings worthwhile, though the higher monthly payments in this price range require careful financial planning.