When we last checked in on the neighborhoods in DC where homes were selling for above asking, there were just five areas that were pushing for a premium. Four months later, that number has doubled.

So far in 2020, homes in the 11 neighborhoods below have been selling at or above their asking price, on average. Neighborhood sales were calculated according to the advertised subdivision, and for inclusion on the list, there had to be at least ten sales in 2020.

Click to enlarge.

This list differs a bit from past lists, as the neighborhoods are almost entirely located in the NW quadrant of the city. Three of the four areas leading the way — AU Park, N. Cleveland Park and Chevy Chase — are regular entrants, where competition has been pushing prices north for years. Woodley, Takoma and 16th Street Heights are new additions, illustrative of the increasing competition in those areas.

 

SOURCE: UrbanTurf