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Despite Record-Setting Prices, Most DC Homes are Selling in 10 Days or Less

  • June 23, 2015

by Lark Turner

Despite Record-Setting Prices, Most DC Homes are Selling in 10 Days or Less: Figure 1
A DC condo that sold in a week after 14 offers were made on the property.

Record-setting prices haven’t slowed down home sales in DC.

A chart from RealEstate Business Intelligence analyst Corey Hart shows that most homes on the market in DC proper are selling very quickly. 55 percent of the homes on the market sell in the first 10 days during the month of May, according to the data.

Despite Record-Setting Prices, Most DC Homes are Selling in 10 Days or Less: Figure 2
Click to enlarge.

That’s despite home prices that have set a record for the District. For the month of May, home prices in D.C. proper reached a median of $560,000, a 5.7 percent increase over last year.

This article originally published at http://dc.urbanturf.com/articles/blog/despite_record-setting_prices_most_dc_homes_are_selling_in_10_days_or_less/10036

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