While we know that the median time for a home on market in the DC metro area is about 12 days, and about 3 percent, or 1,410 homes have sold in less than one day, there's a certain type of home that will generally fly off the market shelves faster than others. Which one do you think it is?
Turns out the row house is the fastest selling type of home, because they're more typically found in urban areas such as Capital Hill and Old Town Alexandria.
The countdown list of fastest to slowest selling is as follows: row houses, duplexes, mid-rise condos from floor five to eight, garden condos from floor one to four, detached homes, high-rises with more than eight floors, penthouses, and multifamily units within one home.
Really, any type of attached home tends to sell faster, as the WBJ reports. That means duplexes and semi-detached homes as well. But why is this? A number of factors.
First, detached homes tend to be higher priced properties, which automatically puts them in an out of reach category. Second, attached homes tend to have the magic combination of location, amenities, and value. If the Metro is within walking distance, then that's a plus. Third, attached homes can be found in various areas, which bring up the average time on market.
· This is the fastest-selling type of home in the D.C. metro area [WBJ]