Home flipping has been a regular part of the DC real estate market for decades and UrbanTurf recently received numbers that help put the current state of that market in context.
ATTOM Data Solutions' latest home flipping report provides a wealth of statistics related to the flipping market in DC last year, and we parsed out some of the more interesting numbers below.
- 580 -- The number of home flips sold in DC in 2018.
- 1,106 -- The number of home flips sold in DC in 2005.
- 8.6% -- The number of home flips as a percentage of DC home sales in 2018.
- $300,000 -- The median sales price of homes prior to being flipped.
- $517,000 -- The median sales price of flipped homes.
- $217,000 -- The gross flipping profit in 2018.
- 37% -- The percentage of homes to flip purchased in cash in DC in 2018.
- 201 -- The average number of days to flip a home in 2018.
- 24% -- The percentage of homes sold in zip code 20019 that were flips.
- $180,760 -- The gross flipping profit in 20019 in 2018.
Note -- The ATTOM Data Solutions report defines a home flip as a property that is sold twice within a year. Any costs associated with renovating a property are not factored in to the return on investment, although experienced flippers estimate those to be anywhere from 20-33 percent of the original purchase price.
This article originally published at https://dc.urbanturf.com/articles/blog/217000-profit-home-flipping-in-dc-by-the-numbers/15068.
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