7 ZIP Codes Selling in 7 Days (or Less)

Posted on June 20, 2012 by Corey Hart
20

Jun

2012

Question: What do these 7 ZIP Codes have in common?

Logan Circle/20005, Alexandria/22308, Herndon/20171, Reston/20194, Del Ray/22301, Westover/22205, Friendship/20015

Answer: Half the homes sold in May were on the market less than a week.

Question: How much of the original list price were homes sold in less than 10 days receiving at sale?

Answer: Most of it (or more)

Question: How do prices in these areas compare with the DC Metro Region?

Answer: The median sale price is higher in every one of these ZIP codes than the regional level.

 

Question: How fast do buyers looking these ZIP codes need to act?

Answer: PDQ.

To illustrate, the charts below show the number of new listings entered vs. the number of new contracts.

 

 

 

 

 

 

days on market, market analysis
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