Biggest Discounts by City in November

Let’s check in on our stats to find out where buyers are currently getting the biggest discounts off asking price. If you are a potential buyer, this will help you to know which neighborhoods may be softer in terms of sale price discounts off list price, and help you know where to look for potential bargains.

In the charts below, we have taken all sales data from the month of November in Redfin’s Washington DC service area and sorted it by city.

Methodology
First, we compiled a list of every sale that took place in the month, calculating each sale’s sale-to-list ratio (based on the final list price). Next, we simply take an average of every individual sale’s sale-to-list ratio to calculate an entire area’s sale-to-list ratio. Any sales that came in with a sale-to-list ratio above 150% or below 50% are excluded from the calculation, and areas with fewer than twenty sales are excluded from the top and bottom ten rankings. Interested readers may download the full data summary in Excel format (xls).

Here are the top ten areas with the largest overall discount:

The overall discount dropped a bit from our last update (based on August sales), moving from 2.0% to 1.7%.

Here are the ten areas with the smallest discounts:

In the 79 areas we ranked, the median discount was 1.9%.

Is the area you’re shopping not on either the top 10 or bottom 10? No problem, just download the full rankings in Excel format and check out the appropriate “Full” sheet.

Of the 6,560 sales we tracked in the 1-month period, 1,415 homes sold for 5% or more off the asking price, while 573 homes sold for 5% or more above the asking price.