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Despite Record-Setting Prices, Most DC Homes are Selling in 10 Days or Less

Despite Record-Setting Prices, Most DC Homes are Selling in 10 Days or Less

by Lark Turner

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A DC condo that sold in a week after 14 offers were made on the property.

Record-setting prices haven’t slowed down home sales in DC.

A chart from RealEstate Business Intelligence analyst Corey Hart shows that most homes on the market in DC proper are selling very quickly. 55 percent of the homes on the market sell in the first 10 days during the month of May, according to the data.

That’s despite home prices that have set a record for the District. For the month of May, home prices in D.C. proper reached a median of $560,000, a 5.7 percent increase over last year.

Luke Buchanan delivers in-depth, local knowledge regarding NW Washington neighborhoods. Luke is proficient in relative-valuation and formerly worked as a strategist for an advertising firm in Santa Monica. If you wish to learn more about your home's worth, please call or email to schedule a free real estate consultation today. You may also visit Luke Buchanan's blog or Facebook, to find additional information that may further guide your real estate decisions. Hobbies include: golf, grilling, image editing, photography, running, skiing, tennis, travel and yoga

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