Sellers are still in control in the Washington-area housing market, but the grip may be slipping.
Real estate firm Trulia says a year ago, 15% of D.C.-area ZIP codes were trending in favor of buyers. That’s at 45% now.
That is not to say they are buyer’s markets; they are just leaning that way.
“How long homes are staying on the market, how common price cuts are becoming and by looking at the actual selling price of a home compared to its original list price,” Trulia economist Felipe Chacon told WTOP.
Where are the buyer-leaning spots around Washington?
“Generally speaking, those ZIP codes that are shifting in favor of buyers are slightly more expensive areas than those shifting in favor of sellers,” Chacon said.
“We’re seeing the biggest shift in favor of buyers on the periphery of the metro [area], in Northern Virginia and Calvert County, Maryland, and the area between Bethesda and Chevy Chase are making the more dramatic shift in favor of buyers.”
Trulia says the top ZIP codes showing the strongest trends in favor of sellers, where homes are selling faster and selling for more, are both in the District. They are in Southeast D.C. and Congress Heights.
