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7 ZIP Codes Selling in 7 Days (or Less)

June 25, 2012  |  by Corey

It’s summer and the market is heating up!  Check out the RBI’s original post or play with the interactive charts below.

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.

 

 

 

 

 

 

Posted in Blog, Featured

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4 responses to “7 ZIP Codes Selling in 7 Days (or Less)”

  1. Crabby says:

    All directly attributable to the increase in the size of government.
    Duh!

  2. […] is keeeping up with mother nature, especially in two particular zip codes.  According to the latest real estate market statistics, there are two communities in Alexandria VA where the homes are selling within one week of being […]

  3. Eric says:

    The assertion that these zip codes are hot because of the increase Government size is a very narrow view and not the reason at all. One must consider consumer preferences, family formation and the desire to live in walk-able communities. Allot of consumers are trending in a different direction not because of the government, it's a changing world we live in. Consider the boomers and the echo boomers, track them, then you can start to see how things are beginning to shift, blaming the government is easy, study the demographics is much harder but it will open your mind to the possibilities.

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