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ZipRealty's hottest ZIP codes in D.C for Q1
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ZipRealty, a discount real estate brokerage, has released it's report for the first quarter. "ZipRealty was the most trafficked real estate brokerage online in Q1 2009, according to Hitwise, a third-party measurement firm."
Interestingly, some of the "hottest" ZIP codes, in terms of where sellers got the highest ratio of sales price to list price, were in outer Northern Virginia markets such as Purcelville, Bristow, Manassas and Sterling. Purcelville's 20132 area was the #3 market in the 25 cities that ZIPRealty covers, with homes selling for 110% of list price.
District: Washington DC
CITY ZIP -- %
Purcellville 20132 -- 110.28%
Manassas 20109 -- 100.75%
Bristow 20136 -- 99.90%
Sterling 20164 -- 99.73%
Lanham 20706 -- 99.31%
Washington 20007 -- 93.79%
Washington 20008 -- 93.60%
Washington 20037 -- 92.77%
Capitol Heights 20743 -- 92.67%
Potomac 20854 -- 92.40%
This hopefully means that buyers are willing to pay in areas that they perceive as "worth it," and that sellers are pricing their homes reasonably to attract the few buyers out there. Most of the other ZIP codes are either in Northwest D.C. or close to the District on the Maryland side.
ZipRealty's dicount brokerage model means they charge slightly less than traditional brokerages. They offer a calculator for how much you would theoretically save (basically 25% on a traditional 6% commission).
Anecdotally, one of my co-workers used Zip to sell her house a few years ago and raved about it.
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