Ten DC Neighborhoods Where You Are Likely Paying Above Asking

• August 4, 2014

by Lark Turner

Inside a Kent home that sold for $55,000 above asking.

Last year, UrbanTurf looked at the six DC zip codes where homes were selling above their list prices. This year, with the benefit of RealEstate Business Intelligence’s newly-segmented data, we’re doing it again, this time with an eye on neighborhoods.

So far in 2014, homes in the ten neighborhoods below have been selling at or above their asking price, on average. Neighborhood sales were calculated according to the legal subdivision. Many of the neighborhoods are small and have had only a handful of sales so far in 2014.

Woodridge, Kent, Chevy Chase DC and Wakefield are the four neighborhoods (of those listed) where the average sales-to-original list price ratio is higher than 2013.

A few more interesting points about the data:

• Chevy Chase DC is a pretty great place to be selling a home in 2014. In addition to being one of just four neighborhoods showing year-over-year growth in the number of homes going for above list, the median sales price in the neighborhood has jumped $140,000 year-over-year. About 100 homes have sold in the neighborhood so far in 2014.
• The neighborhood with the highest sales-to-original list price ratio in 2014 is American University Park (101.14%).
• In six of the neighborhoods listed above, homes are selling in ten days or less so far in 2014.

This article originally published at http://dc.urbanturf.com/articles/blog/ten_dc_neighborhoods_where_you_are_paying_above_asking/8819