Last week, UrbanTurf analyzed what we deemed to be the most competitive DC neighborhoods for homebuyers in the city this year. Based on requests from several readers, today we are providing a supplement to that article which looks at the neighborhoods across DC that are receiving the highest number of offers per active listing.
The most interesting takeaway when looking at the neighborhoods that are garnering multiple bids this year is that, aside from Shaw, the neighborhoods are either located on the east side of the city or the west side, with four of the top five located east of the Anacostia River. The other intriguing data point is that home prices for multiple bid neighborhoods either fall well below the median sales price for the city ($534,000) or rise well above it.
Leading the way are Fort Dupont Park, Randle Heights, Shaw and Hillcrest, where the contract ratio sits above 300 percent in 2018, which essentially means that for every active listing in these neighborhoods, properties are receiving three offers. Just below the 300 percent level is the neighborhood of Marshall Heights. Neighborhoods that are receiving more than two offers per active listing include American University Park, Congress Heights, Chevy Chase DC and Crestwood.
For this article, UrbanTurf analyzed legal and advertised subdivisions in DC that have had at least ten home sales in DC. Contract ratio compares the total number of homes under contract in a given period to the overall number of active listings. A higher ratio signifies an increase in contracts compared to supply.
- The 5 Most Competitive Neighborhoods for DC Homebuyers in 2018
- The Three Charts That Indicate the Spring Housing Market in DC Could Be Competitive
This article originally published at https://dc.urbanturf.com/articles/blog/from-fort-dupont-park-to-au-park-dcs-multiple-bid-neighborhoods/13907.
Most Popular... This Week • Last 30 Days • Ever
UrbanTurf created Pipeline, a searchable database of multifamily projects that are un... read »
As we head towards the end of the year, UrbanTurf is wrapping up its coverage of larg... read »
The plans for the new two-building residential project at Union Market got a big thum... read »
A new report illustrates how much space one can rent for the elusive price of $1,700 ... read »
Stonebridge's big residential plans for the former Jewelry Exchange building in Bethe... read »
A new report out this week found that homes in the DC region are selling nearly a wee... read »
When Amazon announced in 2018 that it would be opening a second headquarters in Virgi... read »
A revised plan is on the boards for a group of five townhouses in the middle of China... read »
The proposed district would encompass the neighborhood's commercial strip along Conne... read »
WTOP is reporting that The Heights, an eight-stall food hall that is taking over the ... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro