A home under contract in North Cleveland Park
DC is a home seller’s market, at least for the time being, but there were four neighborhoods in the city in 2016 where competition for listings on the market was particularly intense for buyers.
UrbanTurf looked at the original list price to sold price ratio of homes sold in neighborhoods across DC this year. If the ratio were perfect, and homes were selling at their list price, the metric would be 100 percent. In the neighborhoods below, the ratio is greater than 100 percent, meaning that homes are selling regularly selling above list price.
Topping the list is Brentwood, a DC neighborhood sandwiched between Eckington, Ivy City and Langdon. The sales-to-original-list-price ratio in the neighborhood in 2016 came in at 103.5 percent and the median sales price rose 11 percent to $329,000.
Rounding out the top four are the neighborhoods that buyers would expect to be competitive including Shaw, AU Park and North Cleveland Park. Housing supply is likely to blame for the competition in the latter two neighborhoods, where inventories have been hovering around one month or less for the last year.
There were a number of neighborhoods in 2016 where the original list price to sold price ratio hovered right around 100 percent, including Mount Pleasant, Brookland, Woodley Park and Logan Circle.
This article originally published at http://dc.urbanturf.com/articles/blog/the_four_dc_neighborhoods_where_you_paid_above_asking_in_2016/11950
Most Popular... This Week • Last 30 Days • Ever
The planned 8-unit development would be located on K Street right along the Potomac R... read »
Loan recasting is a growing practice- so what is it?... read »
The project would replace a concrete plant and would deliver the neighborhood's first... read »
The next phase on the Center Block would deliver 166 apartments and 221 hotel rooms.... read »
The site is next to the former Malcolm X Elementary School on Alabama Avenue.... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »
STAY DC provides rental aid and utility payment grants to at-risk District residents ... read »
Federal Realty plans to eventually file a planned unit development application for th... read »
The project would also deliver new office space for the fraternity, which has been at... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
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. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro