UrbanTurf is taking its annual look at the neighborhood housing markets around the DC region. Today, we head over to Petworth.
For years, neighborhoods east of the Anacostia River and the zip code that encompasses most of Petworth have been prime locations for flipping homes and in 2020, that remains the case. Twelve percent of the homes sold in the Petworth zip code in the first quarter of the year were flips. However, home sales are down this year likely due to a much lower supply of homes for sale than 2019. That hasn't deterred buyers, though: the contract ratio in Petworth has been above 1.0 for the last three months.
Below UrbanTurf plucked out several other interesting stats about the Petworth market.
- $675,000 -- The median home price in Petworth, up 5% compared to last year.
- 268 -- The number of homes sold in the neighborhood this year, down 13% compared to last year.
- 1.33 -- The contract ratio in August (the total number of homes under contract in a given period to the overall number of active listings), up 111% compared to last August.
- 1.36 -- The supply of homes on the market in August, down 32% year-over-year.
- The Takoma Park Housing Market, By the Numbers
- A 33% Jump: The Palisades Housing Market, By the Numbers
- Prices Soar, But So Do Sales: The Woodridge Housing Market, By the Numbers
- A Very Robust Start to 2020: The Crystal City Housing Market, By the Numbers
- Still DC's Most Competitive? The AU Park Housing Market, By the Numbers
- The Capitol Hill Housing Market, By the Numbers
- Still One of DC's Priciest: The Georgetown Market, By the Numbers
- The Chevy Chase Housing Market, By the Numbers
- The Shepherd Park Housing Market, By the Numbers
- A Look at DC's Priciest Housing Market: Spring Valley, By the Numbers
- Rising Prices Don't Dampen Sales: The Anacostia Housing Market, By the Numbers
This article originally published at https://dc.urbanturf.com/articles/blog/the-land-of-flips-the-petworth-housing-market-by-the-numbers/17351.
Most Popular... This Week • Last 30 Days • Ever
The storied unit along P Street is now looking for a new owner.... read »
There are five projects in the works around Audi Field which could bring nearly thous... read »
TideLock is a mixed-use development that will consist of 169 apartments and 65 condom... read »
DC is getting close to meeting Mayor Muriel Bowser's goal of producing 36,000 new ho... read »
The share of homes priced above $1 million continues to rise in the city.... 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