What's Hot: The 4 Projects in the Works Near DC's Starburst Intersection | A 153-Room Aloft Hotel Pitched For Mt. Vernon Triangle
The 10 Places in the DC Area Where You Aren't The Only One Bidding on a Home
Today, UrbanTurf is examining one of our favorite metrics regarding competition in the housing market to find the places in the DC region where homes for sale are attracting numerous bidders.
Contract ratio compares the total number of homes under contract in a given period to the overall number of active listings. A higher ratio points to an increase in contracts compared to supply. For example, a ratio of 2.0 means there are two listings under contract for every listing that is active. For this article, UrbanTurf looked at the highest contract ratios for neighborhoods and cities around the region in March.
story continues below
loading...story continues above
Leading the way in March was the Maryland town of Kensington, where the contract ratio came in at 2.3. Just behind that with a ratio of 2.0 was Colonial Village, a neighborhood at the northern tip of the DC diamond. American University Park, Del Ray and 16th Street Heights all have ratios hovering around 1.8, while a number of other DC proper neighborhoods, ranging from Michigan Park to Chevy Chase, had ratios above 1.0.
In addition to contract ratio, the neighborhoods and towns above stand out as competitive as they largely all have high sales to original list price ratios, an indication that homes are selling for above asking price on a regular basis.
Photo courtesy of HomeVisit.
See other articles related to: contract ratio
This article originally published at https://dc.urbanturf.com/articles/blog/the-10-places-in-the-dc-area-where-you-arent-the-only-one-bidding-on-a-home/19610.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf looks at the estimated annual maintenance costs associated... read »
Another concept has been unveiled for one of DC's most contentious development sites,... read »
The residential development in the works along Florida Avenue NE is looking to increa... read »
Renter demand has continued to push Class A apartment rents in the DC region up this ... read »
The big news in the development pipeline east of DC's H Street Corridor is the resur... read »
- What Are the Annual Maintenance Costs When You Own a Home?
- A First Look At The New Plans For Adams Morgan's SunTrust Plaza
- 46 to 48: The Biggest Project In Trinidad Looks To Get Bigger
- How Much Did DC-Area Rents Rise At The Beginning of 2024?
- The 4 Projects In The Works Near DC's Starburst Intersection
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