Home seller profits are still hefty in the DC region, but they aren't quite as substantial as they were just a few months ago.
The latest report from ATTOM Data Solutions shows that DC home sellers saw six-figure profits in the majority of the city's zip codes last quarter. Below UrbanTurf looks at the profits in a dozen zip codes around the city.
Sellers in the 20015 zip code — home to the Chevy Chase and Barnaby Woods neighborhoods — saw the highest profits with an average of $485,500. The typical profit margin in 20015 - the percent change between median purchase and resale prices - was 56%, down from 67% earlier this year.
The second-highest profit margin was in 20012 (which covers Takoma and Shepherd Park) at 54%, with average profits of $317,500. Like 20015, the profit margin in 20012 was also down about 10% compared to the second quarter. Rounding out the top five are 20016, 20003 and 20002.
Average homeownership tenure saw quarter-over-quarter increases in most city zip codes. Homeowners are staying put longest in the Southwest Waterfront zip code of 20024, with an average tenure of 9.5 years. Coming in second is the downtown zip code of 20036, where homeowners stay put an average of 8.8 years.
The ATTOM report calculates seller gains as the difference between the median sold price for the quarter and the previous median sold price of those same units that sold; homeownership tenure is the average time between the most recent and previous sales dates for applicable units.
Photo courtesy of HomeVisit.
This article originally published at https://dc.urbanturf.com/articles/blog/a_look_at_home_seller_profits_around_dc/20221.
Most Popular... This Week • Last 30 Days • Ever
Neighborhood Development Company has filed plans with DC's Historic Preservation Offi... read »
Plans for the New York-based eatery appear to be moving forward.... read »
The development for four parcels at The Yards from Brookfield Properties and the Menk... read »
EDENS filed a planned unit development for a two-building residential development tha... read »
One of the more prominent features of the project will be a public plaza that will ru... read »
To help home buyers and sellers both novice and seasoned, UrbanTurf is running a seri... read »
As home buyers get the itch to look for a home and start to venture out to open house... read »
The development will replace the 44,700 square-foot retail structure that was previou... read »
The concept includes 14 lanes for bowling, a 1,200 person concert venue, a craft bar ... read »
The zip codes that are home to Brentwood, Takoma Park and sections of Hyattsville top... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro