The percentage of cash home sales in DC in 2019 dropped slightly compared to previous years.

8,490 homes sold in the District through the first 11 months of 2019 — and 17 percent of those homes went to buyers paying all cash. This percentage is down from the three previous years in DC where approximately one in five homes sold did so in all-cash transactions.

The all-cash neighborhoods in DC are also largely the priciest with four of the top five coming in neighborhoods where the median home price exceeds $1 million.

However, it wasn’t just the city’s high-priced neighborhoods where cash was king. In Randle Heights east of the Anacostia River, 29 percent of homes purchased fell into the all-cash category.

Below is a sampling of DC neighborhoods and the percentage of all-cash transactions so far this year:

  • West End: 39 percent
  • Kent: 38 percent
  • Georgetown: 32 percent
  • Spring Valley: 32 percent
  • Randle Heights: 29 percent

In this article, the term “home” is defined as any single-family house, condo or co-op that sold in the city in 2019. 

 

SOURCE: UrbanTurf