Home | Newsletter | Advertise
loading...

1 in 4 Home Sales in DC This Year Has Been All Cash

  • June 17th 2024

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

3300-ext.jpg
A home on the market in Spring Valley. 

One in four home sales in the District this year has been an all-cash transaction. 

Approximately 2,700 homes sold in the city in the first five months of 2024 — and 25% of those listings went to buyers paying all cash. The proportion of homes selling in all-cash transactions has been rising in recent years -- moving from 17% in 2018-2020 to closer to 25% in 2021-2024. 

As home sales have dropped this year (down about 8% compared to 2023), cash sales have remained constant. The cause in both cases is likely high interest rates, as most buyers have pulled back on financed purchases while wealthier buyers are opting to pay cash rather than get a mortgage. 

The all-cash neighborhoods in DC are largely some of 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 so far this year:

  • West End: 60 percent
  • Georgetown: 56 percent
  • Spring Valley: 50 percent

In this article, the term “home” is defined as any single-family house, condo or co-op that sold in the city in 2024.

See other articles related to: all-cash sales, cash sales in dc

This article originally published at https://dc.urbanturf.com/articles/blog/1_in_4_home_sales_in_dc_this_year_all_cash/22433.

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!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse