As Covid altered what people needed in a home and where they wanted to live, the Washington real estate market went mad. Listings that get dozens of offers, houses selling for hundreds of thousands above asking, and buyers making contingency-free bids sight unseen have all become commonplace. Two years into this extreme housing shuffle seemed like the right time to take stock of which areas have experienced the most growth in price and sales volume. Using data provided by Bright MLS, the region’s multiple-listing service, we compared stats from the first quarter of 2020 (i.e., the beginning of the pandemic) with the fourth quarter of 2021. The dozen Zip codes we profiled were chosen because they reflect a diversity of reasons people have moved during this period.
Nowhere in greater Washington have prices shot up more drastically than in these ten places.
These Zip codes—the ten most expensive places to buy a home anywhere in Washington—were among the costliest markets even before the pandemic. But several have managed to get much, much pricier.
Sales volume—the number of homes selling—in these ten Zip codes has risen more dramatically than anywhere else in the region.
Including whether it will get any easier to buy a home here.
This article appears in the April 2022 issue of Washingtonian.