[To read the maps, understand that the darker the green color, the greater the proportion of flipped homes. All areas in grey have no data. The map on the left shows data from May 2011 to September 2015. The map on the right shows data from October 2013 to September 2015. Graphics via DataLensDC/Kate Rabinowitz. The data to make the graphics were based on MRIS data collected monthly by real-estate agent Kevin Wood.]
Home flipping has climbed so steadily in Washington, D.C. that for more than 40 neighborhoods, one out of every 10 homes on the market are flipped. Not only that, but for 11 of the District's neighborhoods, one out of every five single-family homes on the market is flipped. Self-taught coder and DataLensDC Founder Kate Rabinowitz mapped flipped properties as a proportion of single family home sales for her article recently published in Washingtonian. She also provided a bar graph that presented which neighborhoods in Washington, D.C. had the highest percentage of single-family homes flipped since May 2011. While utilizing data from MRIS, she only included stats on single-family homes that were either bought twice within a two-year period or were converted into condos with at least one unit sold in a span of two years. From the above graphics, you can see that home flipping has migrated eastward with hotspots found east of H Street, north of Petworth, and east of Shaw.
According to Rabinowitz, while some of Washington, D.C.'s most popular neighborhoods have lower rates of home flipping (e.g., Logan Circle, Columbia Heights), the proportion of home flipping in areas to the north and east of these neighborhoods is escalating. Additionally, while the majority of flipped homes from May 2011 to September 2015 were found in Brightwood Park and Edgewood, most flipped homes from October 2013 to September 2015 were located in Truxton Circle and Mt. Vernon Square. Carver Langston has maintained its position as having the third highest percentage of flipped single-family homes on the market throughout the years. While analyzing the data on home flipping in Washington, D.C.'s neighborhoods, Rabinowitz discovered that home flipping not only resulted in increased property values, but also populations becoming younger and whiter.
· What are the District's Most House-Flipped Neighborhoods? [DataLensDC]
· Here Are the DC Neighborhoods Where the Most Houses Get Flipped [Washingtonian]
Loading comments...