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Under Two Weeks: The Speed At Which Homes Are Selling in DC

  • November 12, 2015

by UrbanTurf Staff

Under Two Weeks: The Speed At Which Homes Are Selling in DC: Figure 1
A condo in DC that sold in 24 hours.

Homes in DC proper are selling at least twice as fast as properties in the suburbs, and Corey Hart of RealEstate Business Intelligence recently published a chart that illustrates the stark contrast.

In October, homes were selling in DC in a median of 11 days. Arlington and Alexandria followed with a median days on market of 23 days, and the numbers just headed up from there: 27 days in Prince George’s County and 38 days in Montgomery County. The numbers were more even in September and October, but as the chart above reveals, DC proper remained the place where homes sold markedly quicker.

The rapid pace at which homes have been going under contract in the city is no limited to October; for the last eight months, the median days on market in DC has been under 14 days.

A quick search of the RBI database reveals that there are 15 neighborhoods in DC where homes are selling in ten days or faster. Cleveland Park, Mount Pleasant and AU Park lead the way with a median days on market of a week or less for all of 2015.

This article originally published at http://dc.urbanturf.com/articles/blog/a_look_at_how_much_faster_homes_are_selling_in_dc/10579

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