Biggest Discounts February Update
Let’s have an update on where buyers are currently getting the biggest discount off the asking price. Our goal in sharing this data is to help potential buyers to know which neighborhoods are softer in terms of sale price discounts off list price, to better equip you when making an offer, and help you know where to look for potential bargains.
In the charts below, we have taken all sales data from the last two months in Redfin’s Washington DC coverage area and sorted it by zip code. We calculated the overall difference between the sale price and the list price. Note that this reflects the final list price, after all price drops in the listing. Any zips with fewer than ten sales are excluded from the top and bottom ten rankings, but interested readers may download the full data summary in Excel format (xls).
Here are the top ten zip codes with the largest overall discount:
The Great Falls area (22066) fell from #1 to #2 this month. Meanwhile, the area-wide discount increased slightly from 3.6% in December to 4.0% at the end of January.
Here are the ten zip codes with the smallest discounts:
Of the 3,607 sales we tracked in the 2-month period, just 33 homes sold for 20% or more off the asking price, while 626 homes sold for more than asking. As a whole, the average trend in DC continues to move toward larger discounts for most neighborhoods.
Christa said:
The article seems to indicate that all zip codes (even those with less than 10 sales) in the DC Metro area are shown in the linked to excel file. However, I still couldn’t view the Arlington zip code I’m interested in — can it be found somewhere else?
February 8, 2009 8:34 AM
Tim Ellis said:
The “FullSummary” tab in the zip file includes the data for all zip codes that had at least one sale in the December-January time period covered. If the zip code you’re looking for isn’t in there, there were either no sales there, or it is outside our service coverage area.
February 8, 2009 11:57 AM
Brenda said:
Really Tim? There were no sales in Arlington at all in those months? I find that hard to believe. The Arlington zip codes are 22204, 22205, 22206, 22207, 22213, among others not listed here.
February 18, 2009 7:12 PM
Tim Ellis said:
I’ll ask the data guy about it. Unfortunately my posts are only as good as the data I’m given, and I can’t personally verify the completeness of said data.
February 18, 2009 7:13 PM
Brandon said:
Good catch Brenda–I had the same question at first.
February 20, 2009 12:51 PM
justin said:
well, we know those arlington zip codes were between 1.9% and 6.2%
February 27, 2009 3:27 PM
Biggest Discounts March Update | Redfin Washington, DC Sweet Digs said:
[...] overall discount for the DC area held steady from last month right at 4.0%. At 8.9% off, this month’s least-discounted zip code in the top 10 saw almost [...]
March 17, 2009 5:09 AM