The 3 Zip Codes Where DC Home Sellers Average More Than $500,000 In Profits

• November 21st 2024

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

Home sellers across DC saw good profits in recent months, but in three zip codes, gains exceeded more than half a million dollars. 

DC-area homeowners who sold in the third quarter of 2024 saw an average profit of $185,000, per the latest report from ATTOM Data Solutions, down slightly from the second quarter. 

“The latest price and profit numbers provided another round of generally good news for homeowners, tempered by a bit of a downside,” said Rob Barber, CEO for ATTOM. “Home values remained at or near record levels around large swaths of the country, keeping seller profits far above historical levels. At the same time, though, the housing market settled down after a big second quarter, which extended a slow fallback in profit margins that started last year."

In certain DC zip codes, the profits were much higher than the rest of the city. In 20008, which includes portions of Cleveland Park and Woodley Park, home sellers saw profits in excess of $680,000. These profits were driven by older housing stock selling for the first time in decades, as well as a number of high-end flips finding buyers.

The second-highest profit margin was in 20015 (Chevy Chase DC and Barnaby Woods) at $563,740, followed closely by 20016 -- home to AU Park, Palisades and Spring Valley — where profits were $562,500.

The report calculates seller gains as the difference between the median sold price for the quarter and the previous median sold price of those same units that sold; homeownership tenure is the average time between the most recent and previous sales dates for applicable units. 

This article originally published at https://dc.urbanturf.com/articles/blog/the_three_dc_zip_codes_where_home_sellers_averaged_more_than_500000_in_prof/22945.