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The $108,000 Single-Family Home Profit
It is no secret that the profits reaped from selling residential property in the District over the last two years have been notable. A new post from District Measured reveals just how profitable it was to sell a single-family home in fiscal year 2015.
The DC Office of Revenue Analysis blog reports that the median profit gain for sellers of single-family homes in the District during the fiscal year was $108,000. As UrbanTurf reads the analysis, this profit margin is limited to single-family homes, and does not include condos and co-ops.
Unsurprisingly, the largest profit gain was for sellers who had owned their homes for over 14 years. However, the median profit gain for those who had owned a single-family home for three years or less was a tidy $132,000. The second statistic correlates with a report out from DataLensDC today that looks at the DC neighborhoods with the most flipped houses over the last year.
Of course, for those that bought a single-family home in 2008, shortly before the national market crashed, the profits were smaller with a median gain of $46,000.
This article originally published at https://dc.urbanturf.com/articles/blog/the_108000_single_family_home_profit/10493
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