With the spring housing market getting into swing, UrbanTurf is continuing its dive into data metrics that could foretell what the climate of the market will be in certain DC neighborhoods. Today, we take a look at which neighborhoods have been garnering multiple bids in the beginning of the year.
Leading the way in the first two months of the year is LeDroit Park where the contract ratio has sat between 200 and 350 percent. This means that for every active listing, properties are receiving, on average, two or more offers. In Congress Heights, a perennial inclusion on this list, the ratio comes in above 200%. Other neighborhoods receiving one or more contracts per listing include Anacostia, Takoma Park, Bloomingdale and Adams Morgan.
For this article, UrbanTurf analyzed advertised subdivisions 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.
This article originally published at https://dc.urbanturf.com/articles/blog/from-ledroit-park-to-takoma-park-dcs-multiple-offer-neighborhoods/15167.
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