About 20% of home sales in the District last year were all-cash transactions.
8,200 homes sold in the city through the first 11 months of 2022 — and 19.7% of those listings went to buyers paying all cash. In recent years, 17-20% of homes sold in all-cash transactions, so the 2022 numbers are in line with annual trends.
The all-cash neighborhoods in DC are largely the priciest with four 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: 46 percent
- Georgetown: 36 percent
- Spring Valley: 41 percent
- Kent: 38 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_in_5_home_sales_in_dc_in_2022_was_all-cash/20456.
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