20% of Homes Sold in DC in 2018 Were All-Cash Purchases
The percentage of cash home sales in DC in 2018 remained consistent with previous years.
8,328 homes sold in the District in 2018 — and 20 percent of those homes went to buyers paying all cash, a percentage virtually identical to 2016 and 2017. Neighborhoods like West End saw more than half of home purchases made in cash while in Georgetown, where the sales volume is much higher, 30 percent of home purchases were all-cash transactions.
It wasn't just the city's high-priced neighborhoods where cash was king. In Congress Heights, 27.6 percent of homes were purchased with cash; 32 percent homes purchased in Randle Heights fell into the all-cash category.
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Below is a sampling of neighborhoods and the percentage of all-cash transactions in 2018:
- Spring Valley: 36 percent
- Capitol Hill: 20 percent
- Petworth: 19 percent
- Anacostia: 18 percent
- Chevy Chase: 16 percent
In this article, the term “home” is defined as any single-family house, condo or co-op that sold in the city in 2018.
This article originally published at https://dc.urbanturf.com/articles/blog/20-of-homes-sold-in-dc-in-2018-were-all-cash-purchases/14845
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