What's Hot: The Most Expensive Home In Chevy Chase Will Hit The Market For Just South Of $10 Million
DC-Area Home Sellers Averaged $87,000 in Profits in 2020
✉️ Want to forward this article? Click here.
2020 was a good year to sell a home in the DC region.
Home sellers last year saw an average profit of $87,000, according to ATTOM Data Solutions' 2020 Home Sale Report released today. The average profit represents a 24% year-over-year gain for the area. Nationwide, home seller gains averaged $68,800.
In certain DC zip codes, the average profits were much higher than seen in the rest of the region. In the 20002 zip code, which includes portions of Capitol Hill, Edgewood, Eckington and the H Street Corridor, home sellers saw profits of $210,550, an increase of 16% compared to 2019. In the 20011 zip code, which includes portions of Petworth, 16th Street Heights and Crestwood, home sellers saw profits of $217,750.
story continues below
loading...story continues above
One thing that remains consistent with home sales profits is how long people are staying in their home. Homeownership tenure has steadily increased in the DC area over the last twenty years, going from 1.09 years in the first quarter of 2000 to 8.34 years in the last quarter of 2020, a record high for tenure in the region. This puts homeownership tenure in the DC area on par with the nationwide average of 8.33 years.
The report uses data from recorded deeds, foreclosure filings and loans. The DC region is defined based on the Census metropolitan statistical area definition, including areas like Jefferson County, West Virginia and Frederick, Maryland.
See other articles related to: dc housing market, dc housing market trends, dc housing prices
This article originally published at https://dc.urbanturf.com/articles/blog/dc-area-home-sellers-averaged-87000-in-profits-in-2020/17816.
Most Popular... This Week • Last 30 Days • Ever
If the home ultimately sells for around that list price, it would set a record as the... read »
When purchasing a home, it's crucial to conduct a thorough inspection to determine th... read »
The federal government could be shut down by the end of today, and that shutdown coul... read »
The multi-faceted project will include restaurant, bar, fitness and event spaces.... read »
Right on the heels of a $29 million home along Foxhall Road going under contract to T... read »
- Fox News Bret Baier's $29 Million DC Home Finds A Buyer
- A Home Inspection Primer For New Home Buyers
- How a Government Shutdown Could Affect Home Loans
- Union Market Lite? New Food Hall And Event Space Planned For H Street Corridor
- The Trump Effect Continues: $10 Million Georgetown Condo Goes Under Contract
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. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro
