Thirty percent of homes sold in the District last year fetched more than their original listing price, based on a recent data analysis by UrbanTurf. This is up from just 10 percent of homes selling at a premium in 2019.
Just over 2,900 of the 9,650 homes sold last year sold for above asking price, based on data provided by Bright MLS. However, in certain neighborhoods, the proportion of homes that attracted multiple offers was much higher.
The upper NW neighborhoods of AU Park and Crestwood led the way with more than 55% of homes selling for above asking. Just behind these two neighborhoods was Chevy Chase DC, where 45% of homes sold for above asking. In Mount Pleasant, 40% of homes sold at a premium.
There were several other neighborhoods where more than 30 percent of homes sold went for above asking, including Petworth (39%), Deanwood (38%), Brookland (38%), and Capitol Hill (36%).
Photo by HomeVisit
- In the DC Housing Market, Winter is the New Spring
- DC-Area Home Sellers Averaged $87,000 in Profits in 2020
- DC Has Its Most Million-Dollar Neighborhoods on Record
This article originally published at https://dc.urbanturf.com/articles/blog/1-in-3-homes-sold-for-above-asking-price-in-dc-last-year/17840.
Most Popular... This Week • Last 30 Days • Ever
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
Why condo fees are high in some buildings and low in others can be a difficult questi... read »
When sellers haven't quite lined up their next house before their settlement date com... read »
In this edition of First Timer Primer, we take a closer look at what you are actually... read »
To help home buyers and sellers both novice and seasoned, UrbanTurf is running a seri... read »
Virginia's homebuyer assistance programs can seem complex. This edition of First-Time... read »
A recent transaction shows that the housing market isn't cooling off everywhere.... read »
Developer Akridge has released new images of their planned Burnham Place development ... read »
The new development will also have a nearly 20,000 square-foot public plaza.... read »
New plans filed with Arlington County last week provide the first renderings for The ... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro