Mansion Global

Flash Sale

About 19% of homes sell in five days or less in Washington, D.C.

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A six bedroom, five-and-a-half bathroom home in Washington, D.C., currently on the market for $4.395 million.

TTR SOTHEBY'S INTERNATIONAL REALTY
A six bedroom, five-and-a-half bathroom home in Washington, D.C., currently on the market for $4.395 million.
TTR SOTHEBY'S INTERNATIONAL REALTY

When it comes to Washington, D.C.’s real-estate market, time is not on your side. The Washington Business Journal analyzed numbers from MRIS and discovered that about one-fifth of homes in the nation’s capital metro area don’t even spend a week on the market. [S]o far in 2015 about 3 percent of homes have sold in less than one day, according to data provided by MRIS. That's 1,410 homes. Many of these homes are sold before they ever hit the open market, making the competition for them that much fiercer.Almost one-fifth of homes in the region — about 19 percent — are sold in five days or less, according to the data.

The record high for region was hit in 2013 when 23% of homes sold in ‘five days or less.’ According to real estate company Redfin, the median time on market for homes in Washington, D.C. proper is 12 days.

Greater Washington Homes Sold in 5 Days or Less (2015)