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
If there was ever a place where the old adage “one man’s trash is another man’s... read »
In this article, UrbanTurf will explain what special assessments are, how they work, ... read »
The median price of a home in the region in April rose to $640,000, well above the pr... read »
This week's Best New Listings includes a four-bedroom home in Hyattsville, a chic Dup... read »
The question of too many schools; the dog-friendly rental cities; and the changes afo... read »
- Tile, Furniture, Appliances & (Much) More -- The Local Warehouse Chock Full of Salvaged Home Goods
- What Are Special Assessments in Condo Buildings and What Do They Cover?
- DC-Area Home Prices Shatter Record in April
- Best New Listings: 140 Years in Hyattsville, 100 Years in Bethesda
- Friday's Must Reads
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