Six Figures: DC-Area Home Sellers See Highest Profits on Record
✉️ Want to forward this article? Click here.
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.
story continues below
loading...story continues above
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.
Most Popular... This Week • Last 30 Days • Ever
Post Brothers purchased the building at 2100 M Street last year.... read »
The new residential project would take the place of largely vacant office buildings a... read »
This 5,000 square-foot listing is about as close as the city comes to a property that... read »
Back in July, we wondered if the housing market in the DC region was moving in favor ... read »
Mount Pleasant restaurant gets national acclaim; signs of good things in the DC-area ... 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!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro