What's Hot: Podcast Studios, Outdoor Rooms and A Get Down: The 3,500 Units on the Boards For Navy Yard
Sky-High Premium: 13 Homes Sold for At Least $500,000 Above Asking in DC Area Last Quarter
✉️ Want to forward this article? Click here.
A new report from Zillow finds that more homes than ever are selling for drastically above their asking price.
Nationwide, 2,244 homes sold for at least $500,000 more than their original listing price during the second quarter of 2021, per the report, more than twice as many compared to the first quarter.
story continues below
story continues above
In the DC region, the number of homes sold for at least $500,000 above asking almost doubled -- from 7 to 13 -- between the first and second quarter. The second quarter also saw two DC-area homes sell for at least $1 million over listing price. In contrast, only one home in the region sold for at least a $500,000 premium in the second quarter of 2019.
Overall, however, the DC area is lagging behind nationwide trends in the share of homes selling for at least a 30% premium. The region saw 0.6% of listings sell for 30% above ask in the second quarter, compared to 1.4% for the rest of the country. This proportion puts the DC area tied in the bottom six of the 50 largest metro areas studied.
For context, the San Francisco metro area came in first, with 7.4% of homes sold in the second quarter going for at least 30% above asking and a total of 657 homes sold for at least $500,000 above asking.
See other articles related to: above asking, homebuyer premium, zillow
This article originally published at https://dc.urbanturf.com/articles/blog/sky-high-premiume-13-homes-sold-for-at-least-500000-above-asking/18617.
Most Popular... This Week • Last 30 Days • Ever
The home, located just blocks from the Capitol Building, is nearly two centuries old ... read »
While homeowners must typically appeal by April 1st, new owners can also appeal.... read »
On his first day in office, President Trump signed a number of Executive Orders aimed... read »
This week’s Best New Listings includes a four-bedroom Capitol Hill rowhome and a si... read »
On Thursday, Freddie Mac reported 6.96% as the average on a 30-year mortgage, down 8 ... 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