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One-Third of DC Homes Selling In Less Than a Week

by Shilpi Paul

One-Third of DC Homes Selling In Less Than a Week: Figure 1
This Capitol Hill listing went under contract in three days.

Approximately one-third of homes in DC are selling within seven days of hitting the market, according to a new report, making it perhaps the fastest moving housing market in the country.

In the latest analysis from the Redfin Research Center, the real estate website sifted through housing market data in major metro areas and analyzed statistics like inventory and the speed of home sales.

In June, 32 percent of homes on the market in the nation’s capital went under contract within one week, and 44.1 percent found a buyer within two weeks. No major metro area had a higher percentage of homes going under contract in a week.

One-Third of DC Homes Selling In Less Than a Week: Figure 2
Courtesy of Redfin.

However, nationwide trends show that the market may be slowing down a bit. The percentage of homes that went under contract in two weeks or less reached a high of 33.2 percent in April 2013; they slipped to 31.9 percent in May, and 30.5 percent in June.

For the full report, click here.

See other articles related to: redfin, inventory, housing market, dclofts

This article originally published at https://dc.urbanturf.com/articles/blog/1_3_of_homes_in_dc_selling_in_less_than_a_week/7420

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