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  • Writer's picturemundydev

Washington, DC continues strong Real Estate gains. 1 out of 5 sales were paid in Cash for 2017.

The District of Columbia continued its resurgence in 2017 with the Average Sold Price for a home being $683, 940 an 4.56% increase over 2016. Total sold units were 9,250 also a increase of 8.56%. However, the most impressive stat was just how many units were bought with Cash. Last year, 1,785 properties were paid for in Cash, representing 20% of the total units sold. In contrast, 68% of home sold were bought with Conventional loans. FHA, VA, Assumption loans equaled about 12% of the total sales.

Here is how the Market Activity ranked amongst Washington DC and the surrounding counties.

Data Source: MRIS. Statistics provided by MarketStats. Compiled 1/4/2018.

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