DC Area Zip Codes With Most Discounted Homes
Online real estate agency Redfin has analyzed which DC area zip codes offered the biggest discounts for homebuyers during the month of May. To come up with the list, the site looked at sales data by zip code and calculated the difference between the sales price and the listing price.
The zip code with the most discounted homes in the area during May was 22102, made up largely of McLean, VA. The overall discount between the final sale and list price was 15.5 percent. In Maryland, the Balitimore zip code of 21216 offered the best discounts with a 12.5 percent difference between list price and sales price. In somewhat of a surprise, the tony DC zip code of 20016 which includes the Spring Valley, AU Park and the Palisades neighborhoods led the way for DC proper with a difference of 8.8 percent between list and sales price.
Here is a look at the rest of the top ten.
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Do you think this is more of a case of home owners still not recognizing reasonable home values or a case of home owners having sat too long on their listing and now needing to sell?