Earlier this week, UrbanTurf published the somewhat hyperbolic headline that there were no homes for sale in the DC region. While there are listings on the market, the region is in the midst of the lowest housing inventory that it has ever seen.
To provide a sense of where the inventory shortage is particularly acute, UrbanTurf did some digging to find ten neighborhoods where the inventory of homes for sale hovered below one month in December.
The neighborhood with the lowest supply of homes for sale that UrbanTurf could find was Del Ray in Alexandria, where there is less than a week's supply on the market. What that means is that if no new listings hit the market, at current demand levels, the inventory of homes for sale would be zero in just a few days.
In Crestwood, Chevy Chase DC and North Cleveland Park, the market shortage is marginally better with a two-week supply of homes for sale. To put that in more tangible terms, there were just two homes for sale in Crestwood last month.
Palisades, Spring Valley, AU Park and Anacostia all have about a three-week supply of homes for sale, and then rounding out the list are Bloomingdale and Takoma Park, MD with just under a month's inventory.
Check in on UrbanTurf tomorrow morning for a look at how the market was looking in January.
Photo courtesy of TruPlace.
- No Homes For Sale: The DC-Area's 9-Year Housing Inventory Drought
- 1 in 3 Homes Sold For Above Asking Price in DC Last Year
This article originally published at http://dc.urbanturf.com/articles/blog/the-10-dc-area-neighborhoods-with-only-a-handful-of-homes-for-sale/17870
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