The 7 DC Neighborhoods Where You Aren't The Only Person Bidding on a Home
Today, UrbanTurf is examining one of our favorite metrics regarding competition in the housing market to find the DC neighborhoods 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 signifies an increase in contracts compared to supply. For example, a ratio of 1.2 means there are 1.2 listings under contract for every listing that is active. For this article, UrbanTurf analyzed the contract ratio for advertised subdivisions in DC in February.
story continues below
loading...story continues above
Leading the way in February was Brentwood, the Northeast DC neighborhood adjacent to Ivy City, where the contract ratio came in at a notably high 4.5. Following behind in a distant second were Chevy Chase DC and AU Park with ratios between 2.5 and 3.0. Takoma and Fort Lincoln had contract ratios of 2.0, and rounding out the list were Petworth and Brookland.
In addition to contract ratio, the neighborhoods 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.
See other articles related to: contract ratio
This article originally published at https://dc.urbanturf.com/articles/blog/the-7-dc-neighborhoods-where-you-arent-the-only-person-bidding-on-a-home/18112.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf will explain what special assessments are, how they work, ... read »
Plans are moving forward at the site of a long-planned project in Ivy City, however w... read »
Nearly 1,400 residential units are on the boards around Union Market, about the same ... read »
Up 8% year-over-year, it is the first time that prices have exceeded $800,000 for det... read »
If there was ever a place where the old adage “one man’s trash is another man’s... read »
- What Are Special Assessments in Condo Buildings and What Do They Cover?
- Douglas Development Pitches Large Warehouse For New City Site Along New York Avenue
- Hotels, A Public Park and The 1,400 Units In The Works For Union Market
- The Price For A House in The DC Area Hit A New High in April
- Tile, Furniture, Appliances & (Much) More -- The Local Warehouse Chock Full of Salvaged Home Goods
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