DC-Area Home Sellers Averaged $87,000 in Profits in 2020
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
Plans are moving forward at the site of a long-planned project in Ivy City, however w... read »
When Dan and Tanya Snyder couldn't sell their 30,000 square foot home , the former ow... read »
In this article, UrbanTurf will explain what special assessments are, how they work, ... read »
As plans for a street reconfiguration at the intersection of New York and Florida Ave... read »
The median price of a home in the region in April rose to $640,000, well above the pr... read »
- Douglas Development Pitches Large Warehouse For New City Site Along New York Avenue
- Dan Snyder Gave His Potomac Home Away, And Now It's Coming Back On The Market
- What Are Special Assessments in Condo Buildings and What Do They Cover?
- The 1,700 Units In Various Stages Around Dave Thomas Circle
- DC-Area Home Prices Shatter Record in April
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