March 22, 2016 | Isabella Schnider
According to a recent Redfin study, Petworth is reportedly the hottest neighborhood in the U.S. for home flipping with an average gain of $377,000. Find out what other spots made the list.
As we know, Petworth is one of the many up-and-coming neighborhoods in D.C. According to Curbed readers, Petworth was named “the hottest neighborhood of 2015”. Other D.C. neighborhoods that fared well were Brookland, with an average gain of $290,000, and Brightwood, coming in at an average of $261,000.
In October 2015, DataLensDC reported on home flipping in the area, finding that the trend migrated eastward with hotspots east of H Street, north of Petworth, and east of Shaw. DataLensDC mapped flipped properties as a proportion of single family homes sales, discovering that the majority of these sales were in Truxton and Mount Vernon Square.
Source: DC Curbed, DataLensDC, Redfin