Home | Newsletter | Advertise
loading...

The Land of Flips: The Petworth Housing Market, By the Numbers

  • September 30th 2020

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

A home for sale in Petworth.

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.

Similar Posts:

See other articles related to: petworth, petworth home prices, petworth housing market

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/the-land-of-flips-the-petworth-housing-market-by-the-numbers/17351.

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

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse