Home | Newsletter | Advertise
loading...

DC-Area Home Sellers Averaged $87,000 in Profits in 2020

  • January 28th 2021

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

A home that sold in the DC region for a premium last year.

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.

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.

This article originally published at https://dc.urbanturf.com/articles/blog/dc-area-home-sellers-averaged-87000-in-profits-in-2020/17816.

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

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse