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DC's Above Asking Neighborhoods in 2020: Pricey, Supply-Starved and in One Section of the City
As 2020 comes to an end, UrbanTurf is taking a last look at the DC neighborhoods where homes regularly sold for above their original asking price in 2020.
Near the beginning of the year, there were just five areas where homes were fetching a premium; by October, that number had increased to 11.
As we end the year, we find that homes are regularly selling above list price in 13 neighborhoods, an indication of the competition in the city at the moment.
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There are a few interesting similarities about the DC neighborhoods that top the list in the table above. First, the median home price exceeds $1 million. Second, there is a severe shortage of homes for sale, with several neighborhoods having a month's supply of homes on the market or less. Unlike previous years where the neighborhoods on the list represented both sides of the city, in 2020, the areas (with the exception of Capitol Hill) are all located in DC's NW quadrant.
Neighborhood sales were calculated according to the advertised subdivision, and for inclusion on the list, there had to be at least 20 sales in 2020.
Photo courtesy of HomeVisit.
This article originally published at https://dc.urbanturf.com/articles/blog/dcs-above-asking-neighborhoods-in-2020-pricey-supply-starved-and-in-one-sec/17635.
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