About 20% of home sales in the District so far this year were all-cash transactions.
4,120 homes sold in the city through the first five months of 2022 — and 19 percent of those listings went to buyers paying all cash. In recent years, approximately 17-20% of homes sold in all-cash transactions, so this year's numbers are in line with annual trends.
The all-cash neighborhoods in DC are largely the priciest with three of the top five coming in neighborhoods where the median home price exceeds $1 million.
Below is a sampling of DC neighborhoods and the percentage of all-cash transactions last year:
- West End: 42 percent
- Georgetown: 37 percent
- Spring Valley: 47 percent
In this article, the term “home” is defined as any single-family house, condo or co-op that sold in the city in 2021.
Photo courtesy of HomeVisit.
This article originally published at https://dc.urbanturf.com/articles/blog/1-out-of-5-home-sales-in-dc-in-2022-was-all-cash/19850.
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