What's Hot: Barnes and Noble Will Return to Georgetown in June | The 3,000 Units On The Boards From Trinidad to Gallaudet
Longer to Sell: DC Homes Spending More Time on the Market in 2023
For years, as interest rates were low and there were plenty of homes for sale, listings in DC flew off the market. This year, as rates have doubled and buyers have less to choose from, homes are lingering.
Using median days on market data for DC zip codes, UrbanTurf found that homes are spending a lot more time on the market than last year in most of the city.
story continues below
loading...story continues above
The zip codes in the table above are the areas where homes are selling quickest so far in 2023. Aside from the upper NW zip codes of 20015 and 20016, listings are generally staying on the market longer than last year. In the zip codes that are home to Takoma and Georgetown, listings are sitting on the market approximately 50% longer than in 2022.
Interestingly, DC proper is a bit of an anomaly in terms of how long it is taking homes to sell compared to the rest of the region. While the average median days on market statistic in the city was 16 last month, for virtually every other local jurisdiction homes are selling in a week or less.
See other articles related to: days on market, dc neighborhoods homes selling fast, homes selling fastest in dc
This article originally published at https://dc.urbanturf.com/articles/blog/longer_to_sell_dc_homes_spending_more_time_on_the_market_in_2023/21332.
Most Popular... This Week • Last 30 Days • Ever
Rossdhu Gate is the remaining piece of a 30-room castle built by socialite Daisy Calh... read »
As profits drop around the country, sellers around DC are still realizing hefty retur... read »
A Home Equity Line of Credit, commonly referred to as HELOC, is a borrowing product t... read »
The Gen Z market; ranking food halls around DC; and is this the new king of Queens?... read »
This week’s Best New Listings includes a cozy home adjacent to the Arboretum, a pr... 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!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro