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DC Sees Highest Percentage Of All-Cash Home Sales On Record In 2024

  • February 21st

by UrbanTurf Staff

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The most expensive home sale on record in DC was likely an all-cash transaction. 

DC saw the highest proportion of all-cash home sales on record last year. 

Approximately 6,330 homes sold in the city in 2024 — and 26% of those listings went to buyers paying all cash, the highest percentage on record. In recent years, all-cash transactions have accounted for 20-25% of sales in DC, but 2024 was the first year that percentage exceeded 25%. 

One of the primary reasons for this was likely wealthy buyers opting to use cash for a home purchase rather than finance the purchase with mortgage rates above 7%. The all-cash neighborhoods in DC were 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: 57 percent
  • Georgetown: 52 percent
  • Spring Valley: 43 percent
  • Kent: 33 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 Studio Trejo.

This article originally published at https://dc.urbanturf.com/articles/blog/dc_sees_highest_percentage_of_all-cash_homes_sales_on_record_in_2024/23216.

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