One In Three Homes Sold for Above Asking in DC Last Year

• January 12, 2018

by Nena Perry-Brown

There were several points last year when UrbanTurf highlighted just how competitive the DC housing market had become as evidenced by the number of homes for sale that were inciting bidding wars.

And recently, Zillow put out a report that concluded that about 25 percent of homes sold in DC last year fetched above their listing price. The truth is that the proportion is much higher than that. 

Bright MLS, the DC multiple listing service, recently provided UrbanTurf with data that shows that 36 percent of homes sold in DC last year went for above asking price. This percentage was higher in certain zip codes, with 20001 leading the pack with 41.2 percent of homes selling for more than the listed price.

As seen above, each of the zip codes with the highest number of home sales above asking also saw properties sell for above listing price at a higher rate than the city on the whole.  While most of the zip codes above contain some of DC's more popular neighborhoods, the 20019 zip code breaks that mold, showing how more-affordable areas like Deanwood and Marshall Heights are drawing a lot of attention from buyers.

This article originally published at http://dc.urbanturf.com/articles/blog/36-percent-of-homes-sold-in-dc-in-2017-went-for-above-asking/13442