DC Home Sellers Realize Six-Figure Profits in Almost Every Zip Code, Per Report

• November 4th 2021

by Nena Perry-Brown

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It continues to be a great time to sell your home in the District — and almost anywhere else nationwide.

DC-area homeowners who sold in the third quarter of 2021 saw an average profit of $138,757, per the latest report from ATTOM Data Solutions. This represents a 40% year-over-year increase compared to the $92,100 gain observed in the third quarter of 2020. This is also the second-highest average seller gain in the area over the past 13 years.

Home seller profits nationwide also hit six figures this past quarter, with an average gain of $100,178 compared to $85,000 in the third quarter of 2020. Seller profits increased in 86% of the metropolitan areas studied by ATTOM.

"Soaring profits in the third quarter came as the national median home price increased 3.5 percent from the second quarter of 2021 and 15.9 percent from the third quarter of 2020," the report stated. "The annual price surge marked the fifth straight quarter with year-over-year increases of at least 10 percent."

In DC proper, average seller profits were above $100,000 in every zip code studied except one: 20009, encompassing Adams Morgan and Columbia Heights south of Irving Street, had seller gains of $91,000. The most drastic year-over-year drop in seller gains was in the 20018 zip code (Brentwood, Woodridge, Fort Lincoln), where profits dropped 34%, from $222,000 to $107,951. 

Sellers in the 20032 zip code had the highest increase in profits year-over-year, rising by 43% from $61,900 to $174,000. From a pure dollar perspective, sellers in the 20016 zip code (Palisades, AU Park, Cathedral Heights) had the highest average seller gains citywide, at $425,000. The second most-profitable zip code for sellers was 20007 (Berkley, Georgetown), where sellers grossed $408,000 in profit compared to $295,000 a year ago.

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 http://dc.urbanturf.production.logicbrush.com/articles/blog/report-dc-home-sellers-realizing-six-figure-profits-in-almost-every-zip/18913.