The Four DC Neighborhoods Where You Paid Above Asking in 2016
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.
story continues below
loading...story continues above
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 https://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
This week's Best New Listings includes a five-bedroom mid-century modern home in Beth... read »
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 »
- Best New Listings: Modern Homes Meet Mid-Century Aesthetics
- 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
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