A home on the market in 22205.
In recent weeks, UrbanTurf has been looking at the zip codes in DC and Maryland where homebuyers are likely paying above asking for a new home. Today, we finish out the series by looking at the more competitive zip codes of Northern Virginia. As usual, RealEstate Business Intelligence (RBI) provided us with zip code housing data for this article.
The biggest takeaway from the table below is that no Northern Virginia zip code had a sale price to original list price ratio of more than 100 percent in 2013; anything over 100 percent means that sale prices were trending higher than asking prices. This is somewhat surprising given that there were six DC zip codes with ratios at or above 100 percent, and three in Maryland.
Note: Only a sampling of neighborhoods/towns are included for each zip code.
This is not to say that homes weren’t selling for above their asking prices in the zip codes listed above, it is just less likely than in the top DC and Maryland zip codes.
At the top of the Northern Virginia list is 22151, which includes a northern stretch of Springfield and Kings Park. 22151 is followed by zip codes in Westover, Annandale, Shirlington and Clarendon.
The chart above reveals a few other interesting tidbits:
- All five zips showed year-over-year price increases, but in 22151 and 22312, prices rose 11.7 percent and 12 percent, respectively. The Northern Virginia zip code with the largest year-over-year price increase is 22044, where prices have risen a whopping 58 percent.
- The highest median days on market statistic was 13 days, but in three cases, homes in the listed zip codes were moving in a week or less.
This article originally published at http://dc.urbanturf.com/articles/blog/the_5_most_competitive_zip_codes_in_northern_virginia/7883
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