Home | Newsletter | Advertise
loading...

Two Offers or More: A Look at DC's Multiple Bid Neighborhoods

  • September 21st 2018

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

Two Offers or More: A Look at DC's Multiple Bid Neighborhoods: Figure 1
A home that sold this year in Marshall Heights.

The fierce competition in the DC housing market continues to be concentrated on the east side of the city. 

An updated look at the neighborhoods in DC where homes for sale are garnering multiple bids reveals that, aside from a handful, these neighborhoods are concentrated in the eastern section of the city. 

 

Leading the way are Marshall Heights, Congress Heights and Randle Heights, all neighborhoods east of the Anacostia River where the contract ratio has been above 200 percent in the second quarter of the year. This means that for every active listing in these neighborhoods, properties are receiving, on average, two offers. In Marshall Heights, the ratio comes in above 500%. Also coming in at or above the 200 percent level are American University Park, Michigan Park and Takoma. Just below the 200 percent level are Hillcrest and Fort Dupont Park. 

For this article, UrbanTurf analyzed legal and advertised subdivisions in DC that have at least twenty home sales in 2018. Contract ratio compares the total number of homes under contract in a given period to the overall number of active listings. A higher ratio signifies an increase in contracts compared to supply.

This article originally published at https://dc.urbanturf.com/articles/blog/two-offers-or-more-a-look-at-dcs-multiple-bid-neighborhoods/14474.

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

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse