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25 Percent of DC and Maryland Home Sellers Reducing List Prices

  • March 9th 2010

by Brett Widness

Roughly one in four home sellers in DC and Maryland reduced the listing prices on their homes in February, according to new data from Trulia. DC and Maryland were two of the “states” with the highest overall rate of reductions, at 25 percent and 24 percent, respectively.

Within the District itself, certain zip codes appeared more impervious to listing reductions than others. The 20003 zip code, which encompasses part of Capitol Hill and the SE Waterfront saw 26 percent of listings cut prices, while Northwest’s 20007 (Georgetown, Glover Park, Palisades) saw sellers only reducing prices at a rate of 14 percent, so nearly half as often.

The 20008 zip code, which includes Woodley and Cleveland Park and parts of Dupont, showed the largest reduction by amount, with listings reduced by 19 percent. This may indicate the continued weakness in the high-end market, as this zip code is known for its expensive homes.

Here is a breakdown of reduction by county and zip code:

25 Percent of DC and Maryland Home Sellers Reducing List Prices: Figure 1

Note: The statistics for Montgomery County above are incorrect. Here are the correct stats:

25 Percent of DC and Maryland Home Sellers Reducing List Prices: Figure 2

See other articles related to: dc area market trends

This article originally published at https://dc.urbanturf.com/articles/blog/25_percent_of_dc_and_maryland_home_sellers_reducing_list_prices/1855.

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