The living room of a unit on the market in 20037.
A new report reveals that about one of every two home sales in the DC zip code that includes West End and portions of Foggy Bottom was an all-cash transaction in 2015.
Specifically, 47 percent of the sales in 20037 this year have been all-cash deals, which amounts to 96 transactions. The total sales volume for the zip code was just north of $155 million, and the average days on market for the zip code fell just over 30 percent since last year. Following 20037 with the highest volume of cash transactions are zip codes that encompass Silver Spring and Hyattsville, as well as those that include Congress Heights and Georgetown.
As is typically the case, the high volume of cash transactions are seen in expensive neighborhoods in the region where buyers do not require conventional financing, and neighborhoods that are in the crosshairs of investors who are swooping in and paying cash for inexpensive homes.
This article originally published at http://dc.urbanturf.com/articles/blog/west_end_foggy_bottom_were_all-cash_sales_in_201/10618
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