Last year, Business Insider ranked the nation’s capital as one of the best places to live in America (Washington, D.C. ranked 19), offering a robust job market and great communities. But such desirability attracts population, and that often means more traffic. So it was no surprise D.C. also ranks fifth among the most congested U.S. cities. But according to INRIX Research in its annual Global Traffic Scorecard released this month, D.C.’s numbers improved over last year.
A big improvement was an 11 percent reduction in hours lost in congestion for Washington, D.C., commuters. Still, the Scorecard indicated that commuters averaged 124 hours lost in congestion, which translates to a cost of $1,835 per driver, and a cost for the entire city estimated at about $4.1 billion.
Such data might seem overwhelming or even troublesome, considering the financial cost and simple amount of time it takes to get from one place to another during rush hour. But it’s also very instructive from a real estate perspective, and it impacts buyers and sellers alike. Overall, it is a driving factor (no pun intended) in the concept of “location, location, location.”
There is a reason properties situated near public transportation or near downtown D.C. can command higher prices, so it’s best for buyers to be prepared for higher prices and hefty competition when making offers.
For sellers, it’s instructive to understand the impact of location when it comes to congestion. Still, pricing of your property requires vigilance. Being right at market value can increase the likelihood of multiple/competing offers, but overpricing can mean fewer likely buyers touring your home and diminishing returns the longer the property is on the market.
Still, the congestion numbers for Washington, D.C. were better than last year, and D.C. does not have the worst congestion in the country. That award goes to Boston, which topped the list last year as well. In 2019, Bostonians lost 149 hours in congestion—also an improvement over the previous year—with a cost per driver topping out at $2,205.
Chicago came in at No. 2 on the list with 145 hours lost in congestion, followed by Philadelphia (142 hours), and New York City (140 hours).
Globally, three U.S. cities fell in the top 25 most congested around the world—D.C. (21), New York (14), and Boston (9), but if you want to take in the most congested, you’ll need a passport. Bogota, Colombia, tops the international list, with 191 hours lost in congestion, followed by Rio de Janeiro, Brazil, at No. 2, and Mexico City (3), Istanbul, Turkey (4), and Sao Paulo, Brazil (5).
Christopher Prawdzik, an Accredited Staging Partner® Real Estate Agent, and his wife Angela Logomasini are licensed Realtors® with Samson Properties in Alexandria. Operating as D.C. Region Real Estate, they serve the Virginia, Washington, D.C., and Maryland real estate market and offer comprehensive real estate services, including 4½% full-service listings.
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