Those in the DC region who sold a home between April and June were part of a fortunate group.
Homeowners in the area who sold in the second quarter of 2021 saw an average profit of $150,000, according to the latest report from ATTOM Data Solutions. This is a 78% increase in profit year-over-year and the highest average quarterly profit on record for the region. Home seller profits nationwide averaged $94,500 in the second quarter.
Here is a sampling of average seller profits in DC-area zip codes last quarter:
- 20002 -- $245,000
- 20009 -- $117,500
- 20011 -- $255,000
- 20016 -- $462,000
- 20020 -- $165,440
- 20815 -- $349,800
- 22301 -- $227,000
In perhaps a combination of people moving due to COVID and sellers wanting to take advantage of healthy profits, homeownership tenure in the region dropped to its lowest level in seven years. In the second quarter, home ownership tenure was 6.41 years down from 8.6 years in the third quarter of 2020.
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/six-figures-dc-area-home-sellers-saw-the-highest-profits-on-record-last-qua/18548.
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