The latest annual report by ATTOM Data Solutions, released on Thursday, revealed that sellers in the region experienced an average profit of $165,000 in 2023, marking an increase from $152,000 in 2022. This 8.4% rise from year to year sets a new high, surpassing the record previously established in 2022.

Rob Barber, the CEO at ATTOM, commented, "2023 was yet another exceptionally profitable year for home sellers in a majority of the U.S. locations. With average profits exceeding $120,000 and profit margins nearing 60%, these figures have more than doubled in the past five years."

In the Washington, DC area, particularly in zip codes 20015 (Chevy Chase DC, Barnaby Woods) and 20016 (Spring Valley, AU Park), as well as the Bethesda zip codes of 20815 and 20816, sellers saw the largest dollar amount gains, with average profits surpassing $500,000. Notably, the 20024 zip code, located east of the Anacostia River, witnessed the most significant percentage increase in profits, at 87%.

Despite the increase in home seller profits in the DC region, the national trend showed a decline. For the first time since 2011, profits across the country decreased in comparison to 2022.

Redfin reports indicate that in the fourth quarter, newly constructed singlefamily homes represented 31.8% of all homes available for sale across the U.S., a figure nearly identical to the 31.9% recorded in the previous year. This is in comparison to the first quarter of 2022, which saw a record-setting1 34.5% share of new constructions in the housing market.

Currently, constructors are not only presenting mortgage rates that are more favorable than the market average but there's also a noticeable hike in the prices of entry-level homes. The data from 2022 reveals a significant rise, with 42% of the newly built single-family homes being priced at $500,000 or higher, a sharp increase from 30% in 2021 and 18% in 2020.

Reflecting on the trends, a decade ago, new constructions made up a mere 10% of all home sales. Even during the height of the housing boom, just before the Great Recession, the percentage of newly built homes sold barely reached 17% or 18%. Presently, this figure has escalated to nearly a third of all home sales nationwide, marking a remarkable shift.

Both new and active listings increased in January. The key data points from last month are as

• There was a 7.9% increase in active listings, YOY, the third straight month of annual inventory growth.
• There was a 2.8% increase in new listings
• The highest increases in new listings were in Denver (+21.3%), Seattle (+20.6%), and Miami (+20.2%)
• Homes spent a median of 69 days on the market, a four-day drop from last year and a 13-day drop from January 2019.