DC Area is Second-Hottest Flipping Market in the Country

A flipped home on the market in Petworth that was bought in January for $250,000 and is listed at $597,500.
There is new statistical evidence that furthers the conclusion that the DC area is a pretty good place to be if you’re flipping houses.
According to new data from RealtyTrac, DC is still the second-best metro area in the country when it comes to flipping single-family houses. Average gross profits on a flip in the second quarter of 2014 totaled $136,135 in DC, second only to San Jose, California’s sky-high $258,968. Unlike San Jose’s metrics, DC’s were down from the first quarter of 2014, when average profits topped out at at $146,576.
Here’s a chart showing the other top cities’ metrics:

Flips made up 10.2 percent of all sales in DC proper in the second quarter, more than twice the national average for the quarter, according to RealtyTrac. Gross profits nationwide were $46,000; in DC proper they were much higher, at $222,106. (That’s in contrast to the lower metro-wide figure cited earlier.) DC flips were bought for an average of $296,395 and sold for an average of $518,501, according to the data.
In June, another report concluded that Petworth was the best neighborhood for flipping houses in the country.
RealtyTrac defines a flip as “a transaction that occurred in the second quarter where a previous sale on the same property had occurred within the last 12 months.”
See other articles related to: realty trac, flipping
This article originally published at http://dc.urbanturf.com/articles/blog/dc_has_the_second-hottest_flipping_market_in_the_country/8906
Most Popular... This Week • Last 30 Days • Ever
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »

To illustrate the rise in prices, UrbanTurf analyzed four charts that show the path o... read »

The hyper-competitive, ever-shifting conditions of the DC-area housing market are cha... read »

Since the last time UrbanTurf took a look at the South Capitol Street corridor, over ... read »

A new condominium and townhome community called Venue will debut the best views and m... read »
- A Virtual Tour of More Than 35 DC-Area Developments
- The 9-Year Trajectory of DC Home Prices in Four Charts
- The Price is Right? How Home Pricing and Buying Strategies Are Changing in DC's Competitive Market
- 1,900 Units Down, 1,900 to Go: The Status of the South Capitol Street Pipeline
- Old Town's Newest Riverside Development Is Already Over 50% Sold
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!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro