Homes in Mount Pleasant. Courtesy of HomeVisit.
A good metric for determining the most competitive housing markets in DC is median days on market as it illustrates where homes are selling the fastest.
Looking at data from legal subdivisions around the city, UrbanTurf used the metric for median days on market so far in 2017 to see which neighborhoods are moving the fastest.
Here are the six neighborhoods where homes are selling in nine days or less:
The neighborhoods where homes are selling the fastest in DC are areas that have been competitive for a long time, such as AU Park, North Cleveland Park and Mount Pleasant. They are all also located in Northwest. As the table outlines, the markets in these neighborhoods in the first quarter of 2017 are moving at a more brisk pace than last year, likely due to the fact that snow didn’t affect the market this year as much as last.
The fastest moving markets in DC are also some of the most competitive. In AU Park and Cleveland Park, the average sales price to original list price ratio is above 104% for 2017, a sign that homes in these areas are not only selling quickly, but also for above list price.
The statistics used for this article are courtesy of ShowingTime RBI based on listing activity from MRIS.
This article originally published at http://dc.urbanturf.com/articles/blog/the_six_dc_neighborhoods_where_homes_are_selling_in_nine_days_or_less/12418
Most Popular... This Week • Last 30 Days • Ever
Residential development in this jurisdiction-straddling neighborhood got a major kick... read »
Here's what you need to know about reporting profit made from the sale of your home.... read »
A final look for the year at the DC neighborhoods where home values rose the most thi... read »
With two additional museums authorized as part of the Smithsonian system, a forthcomi... read »
Another hotel in the DC area will bite the dust to make way for the new development.... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
A Tysons development has the area's five tallest buildings on the boards.... read »
Homeowners will be able to expedite the ADU approval process with two options for one... read »
A rezoning may be in the works for the AutoZone site.... read »
The priciest condo to ever sell in DC just closed last week, nearly a month after the... 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