DC-area home sellers largely saw big profits in 2021.
The year-end report from ATTOM Data Solutions released Thursday shows that DC-area sellers saw an average profit $140,000 in 2021 compared to $90,000 the year prior — a 56% year-over-year increase. For DC proper, seller gains grew at a much more marginal rate of 2.5%, from $166,751 in 2020 to $171,000 in 2021, however zip code data shows a much wider range of profit margins.
Sellers in the 20008 zip code (Connecticut Avenue corridor north of Dupont Circle) saw the highest gains by dollar amount, with an average profit of $452,000. Meanwhile, sellers in Southwest's 20024 zip code saw the highest increase in profits citywide (70.3%), as profits rose from $104,500 to $178,000.
Examined by percentage, the 20008 zip code is tied with 20012 (Takoma, Colonial Village) with 70% average gains for sellers; in the latter zip code, the average profit was $330,000 in 2021.
DC homeowners who sold in the fourth quarter of 2021 had owned their homes anywhere from an average of 5.42 years in the 20032 zip code (Congress Heights) to 10.67 years in the 20036 zip code (Downtown).
Note: The 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.
This article originally published at https://dc.urbanturf.com/articles/blog/dc-area-home-sellers-saw-profits-rise-56-last-year/19202.
Most Popular... This Week • Last 30 Days • Ever
In this edition of First-Timer Primer, we look at the ins and outs of the 203k loan.... read »
The largest development on the boards for the H Street Corridor will go before DC's B... read »
Today, we highlight the five DC neighborhoods that have been the most affordable to h... read »
A federal government shutdown at the end of this week looks more and more likely, and... read »
The national housing market has gained a tremendous amount of value in recent years, ... read »
With interest rates reaching their highest levels in 22 years, it is critically impor... read »
Plans have been filed with DC's Historic Preservation Office to convert the building ... read »
The change would allow for an 80-acre portion of DC's 272-acre Armed Forces Retiremen... read »
An application filed with DC this week signals the end is nigh for a McDonald's locat... read »
Madison Highland Live/Work Lofts has plans in the works to convert the 12-story offic... 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. Start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro