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.
Most Popular... This Week • Last 30 Days • Ever
The storied unit along P Street is now looking for a new owner.... read »
There are five projects in the works around Audi Field which could bring nearly thous... read »
The news anchor dropped the price for his sprawling DC home, but it still could set a... read »
DC is getting close to meeting Mayor Muriel Bowser's goal of producing 36,000 new ho... read »
The development pitched for the site of a Goodwill store in Arlington got the key app... 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. Start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro