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A Second Look at DC’s Top 50 Listings

by Mark Wellborn

A Second Look at DC's Top 50 Listings: Figure 1
Dupont Circle — A Homebuyer Favorite

Back in April, we took a look at the neighborhoods that DC house and condo hunters were flocking to during their home hunting search. (The idea was born out of a column in The Atlantic where the author lamented that there were no quality homes for sale in DC.)

Our analysis was based on the top 50 most viewed properties on Redfin, which tracks the most popular listings in the DC area over a 2-3 week period. Five months later, we decided it was time to take another look at the neighborhoods that ranked high on buyers’ priority lists. Here are some notable takeaways:

  • Three of DC’s most popular neighborhoods represented over half of the 50 most viewed properties: Dupont Circle (10), Logan Circle (10) and Capitol Hill/Hill East (8).

  • A look at the top 15 listings reinforces the popularity of more established neighborhoods, as Dupont, Logan and Capitol Hill are all represented well. But also in the top 15 are this two-bedroom rowhouse that we recently featured in Blagden’s Alley, a four-bedroom home in Chevy Chase DC, and a fixer-upper on the eastern border of Petworth, suggesting that homebuyers are not entirely confining their search to certain sections of the city.

  • Just two listings in the top 50 were priced over $1 million, and one of those properties (also the most popular overall) was a $14.95 million property on R Street that was likely gawked at by many, rather than viewed by serious buyers. The fact that so few million-dollar properties made the top 50 probably says more about the demographics of those using Redfin than the prevalence of luxury home buyers in the District.

  • The property types of the listings in the top 50 is split almost down the middle between single-family homes and condos. (This was also the case when we analyzed the most popular listings back in April.)
  • The average price of the properties in the top 50 (excluding the $14.95 million property) is $582,000.

The main difference it seems between this analysis and the one we did back in April is the that buyers seem to be focusing their search more on central NW neighborhoods. Five months ago, a much wider range of neighborhoods were represented in the top 50, indicating that people were not averse to searching off the beaten path.

See other articles related to: dclofts, dc area market trends

This article originally published at http://dc.urbanturf.com/articles/blog/dcs_top_50_properties_volume_2/2583

3 Comments

  1. samuel said at 5:16 pm on Monday October 18, 2010:
    Very interesting snapshot. I was at an open house in Logan this weekend, and 35 names were already on the sign-up sheet when I got there 90 minutes after it started.
  1. Mary said at 7:58 pm on Monday October 18, 2010:
    My only quibble with using most-viewed to assess which properties are of the most interest to buyers is that we don't really know what proportion of the browsers on redfin are prospective buyers at all. Many of my neighbors who have no intention of moving check in with it frequently kind of to assess how they think the housing market in the neighborhood's doing, and use Redfin in particular for that because of the Days on Market, price reduction and prior sales price data. If these browsers account for a lot of Redfin users, then what this data may tell you is more like the neighborhoods in which people are very interested in trends in housing prices and internet savvy enough to have found the ideal site for doing that.
  1. Matt Goyer - Redfin said at 9:41 pm on Monday October 18, 2010:
    Hi Mary, last time we surveyed Redfin site visitors in June 20% who responded to the survey indicated that they were just browsing and not actively looking to buy. So, there definitely are some of your neighbors on Redfin and not looking to buy, but I feel that the majority of folks on Redfin are serious home buyers. Hope that helps you decide on whether it is worth paying attention to the top homes list or not...

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