Home | Newsletter | Advertise
loading...

The 6 Most Competitive Neighborhoods For Homebuyers in DC

  • September 1st 2022

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

 A home in AU Park. 

Despite the cooling market, there are still plenty of DC neighborhoods where the buyer competition has been fierce this year. 

Today, UrbanTurf is taking its semi-annual look at the neighborhoods around the city where homebuyers are likely to face the most competition in 2022.

UrbanTurf used a couple metrics to determine the competition level around DC. First, we used the year-to-date ratios of average sales price to original list price for advertised subdivisions in the city. The baseline ratio is 100 percent, so any average north of 100 is an indication that homes are selling for above list price.

And the second metric we examined was housing inventory. Neighborhoods with a high sales price to list price ratio combined with a low inventory of homes for sale are usually competitive. 

Click to enlarge.

For the last year or so, the most competitive neighborhoods for buyers have also been some of the city's most expensive. That remains the case so far in 2022, as the median price of the 6 most competitive areas is at least $1.5 million.

Colonial Village, a neighborhood on the top of the DC diamond, and the upper NW neighborhoods of American University Park and North Cleveland Park lead the way for competition in 2022, thanks to average sales price to original list price ratios of 107%-108%. Chevy Chase DC follows behind with a supply of homes for sale below one month. 

Despite median home prices in the $2 million range, Spring Valley and Kent made the list due to a low supply of homes for sale that is pushing competition along with some of the highest sales-to-list price ratios in the city. 

For more on the current climate of the DC-area housing market, check out UrbanTurf's recent coverage below:

This article originally published at https://dc.urbanturf.com/articles/blog/the-6-most-competitive-neighborhoods-for-homebuyers-in-dc/20035.

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

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse