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Longer to Sell: DC Homes Spending More Time on the Market in 2023

  • August 3rd 2023

by UrbanTurf Staff

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Home on Capitol Hill. 

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. 

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Click to enlarge.

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. 

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.

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