Homes are selling faster than ever in the DC market and today UrbanTurf looks at exactly where they are selling the quickest.
Using median days on market data for advertised subdivisions around DC, we highlighted where homes have been selling the fastest in 2020. In the current high demand market, homes are selling in a week or less in ten neighborhoods across the city.
Leading the way so far in 2020 are many of DC’s “Parks”: American University Park, North Cleveland Park, Woodley Park and Shepherd Park. In these neighborhoods, as well as Takoma, homes are selling on median in six days. Home prices in these neighborhoods have also risen at least 10 percent, year-over-year.
There are five more neighborhoods in the city, ranging from Chevy Chase to Mount Pleasant, where homes are selling on median in a week. Every neighborhood in the table above also has an average sales-to-original list price ratio in excess of 99.5 percent which means that homes are not only selling fast, but at or above list price.