The Washington Post recently reported on the three “hottest” neighborhoods in DC with the help of data from Real Estate Business Intelligence (RBI). And by what measure did they dub them thusly?
“Since there is no singular definition for what makes a neighborhood popular, we looked at a few data points: the number of new listings, the length of time homes are on the market before they sell, and whether the properties sell for more than the original listing price. After crunching all the numbers, it quickly became clear that three distinct D.C. neighborhoods dominate the playing field.”
And the three “winners” are (drumroll please):
Dupont Circle/AdMo (Zip = 20009)
For more details and a full breakdown on the data, check out the complete article here.
Clearly, if you own property in one of these neighborhoods, then you should seriously be considering selling. (Unless of course you just bought your place.) But here’s something for my homebuyers out there to chew on. Does the fact that these neighborhoods are so “hot” based on the above-named criteria actually make them good locations for you to be shopping in? Or does this article actually serve as a good list of neighborhoods for you to avoid if you’re not interested in engaging in a bidding war?
Don’t get me wrong, these are all fabulous neighborhoods and I’ve managed to find some great deals for my clients in these areas, even in the midst of the current market madness. I’m just saying that it’s worth reading between the lines a little bit when it comes to big fancy labels like “Hottest Hoods in Town.”
If you own in one of those areas and are thinking about selling, or are thinking about buying and are curious about some of the neighborhoods in town that would make great alternatives to the ones listed above, shoot me an email!