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The Six DC Neighborhoods Where Homes Sold Fastest in 2017

by Nena Perry-Brown

The Six DC Neighborhoods Where Homes Sold Fastest in 2017: Figure 1
A home in Mount Pleasant that found a buyer in 4 days.

A good indicator of the competition level in a housing market stems from the number of days a listing spends on the market before going under contract. As the year winds down, UrbanTurf takes a look at the DC submarkets where homes have been selling fastest this year.

Using the median days on the market for the city’s legal subdivisions, we highlighted which neighborhoods are seeing listings sell the fastest. The six neighborhoods where homes are selling the fastest this year are as follows:

The Six DC Neighborhoods Where Homes Sold Fastest in 2017: Figure 2

Crestwood and North Cleveland Park are the fastest-selling submarkets, with listings going under contract in a median of 6 days — meaning that half of listings sold in less than that time. The neighborhoods of Burleith, Chevy Chase, Garfield and Mount Pleasant are all tied for second place, with listings selling in a week’s time.

North Cleveland Park and Mount Pleasant are the least-surprising entrants on the list, with both having seen homes sell in a week, on median, last year. Interestingly, eight other neighborhoods were tied for third place with listings selling in a median of 8 days, illustrating the overall competitive nature of home sales throughout the city, from areas as diverse as Shepherd Park to AU Park.

This analysis omits advertised subdivisions, which eliminates typically competitive submarkets like Logan Circle from the running.

The statistics used for this article are courtesy of ShowingTime RBI based on listing activity from MRIS.

See other articles related to: dc home sales

This article originally published at http://dc.urbanturf.com/articles/blog/the_six_dc_neighborhoods_where_homes_sold_fastest_in_2017/13343

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