Real Estate
[Cash Buyers] Top 10 Neighborhoods in Burke
See the latest rankings of the Burke neighborhoods with the most cash buyers in the past year. Is your neighborhood on the list?
What do cash buyers mean for your neighborhood? Neighborhoods with a high percentage of cash buyers can mean that investors are fixing and flipping homes, which can increase home values overall. In condo communities, a high percentage of cash buyers may mean these are good buy and hold investment properties, where the rent versus purchase price is attractive to investors. In the past year, 627 properties have sold in Burke ranging from a 2-bed, 1-bath condo for $110,000 to a 6-bed, 4.5-bath detached for $1,065,000. Approximately 8% of these homes were purchased with cash. The median sold price was $470,000.
Top 10 Burke Neighborhoods for Cash Buyers
In the past 12 months, a total of 51 homes sold in Burke for cash with a median sold price of $397K. These were the most popular Burke neighborhoods for cash buyers.
| Neighborhood | Type | Cash Sales | % Cash | Sold (Med) |
| Burke Centre | Townhouse | 14 | 8% | $425,000 |
| Lake Braddock | Townhouse | 8 | 12% | $415,500 |
| Burke Cove | Condo | 5 | 24% | $212,500 |
| Cherry Run | Detached | 4 | 16% | $617,500 |
| Bent Tree | Detached | 2 | 13% | $523,750 |
| Burke Manor | Townhouse | 2 | 50% | $324,000 |
| Signal Hill | Detached | 1 | 7% | $431,550 |
| Cardinal Glen | Townhouse | 1 | 8% | $380,000 |
| Homewood | Detached | 1 | 50% | $405,000 |
| Burke Station Square | Townhouse | 1 | 5% | $397,500 |
Burke Cash Sales by Property Type
In the past 12 months, a total of 18 detached homes, 24 townhomes, and 9 condos sold in Burke for cash. This was the breakdown by property type and bedrooms.
Find out what's happening in Burkefor free with the latest updates from Patch.
| Type | 1 BR | 2 BR | 3 BR | 4+ BR | Sold (Med) |
| Detached | 0 | 0 | 7 | 11 | $500,750 |
| Townhouse | 0 | 2 | 20 | 2 | $349,250 |
| Condo | 4 | 3 | 2 | 0 | $208,000 |
| Sold (MED) | $210,250 | $265,000 | $397,500 | $522,500 | $397,500 |
Peggy Yee is a supervising broker at Frankly Realtors and is one of Northern Virginia Magazine's Top Realtors in 2015-2019. She has been quoted in the Around Reston Magazine, Washington Post, Money Magazine, Consumer Reports, Zillow, Trulia and Realtor.com.
Find out what's happening in Burkefor free with the latest updates from Patch.
Information based on BrightMLS data and deemed reliable but not guaranteed.