The average home seller in the US in Q2 2017 realized a 26% gain over their previous purchase price of the home, the highest average return since Q3 2007, when it was 27%, according to a report by ATTOM Data Solutions. In dollar terms, the average seller saw a gain of $51K.
The report also shows that homeowners who sold in the second quarter had owned an average of 8.05 years, up from 7.85 years in the previous quarter and up from 7.59 years in Q2 2016 to the longest average homeownership tenure as far back as data is available, Q1 2000.
“Potential home sellers in today’s market are caught in a Catch-22. While it’s the most profitable time to sell in a decade, it’s also extremely difficult to find another home to purchase, which is helping to keep homeowners in their homes longer before selling,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.
Meanwhile, the top 37 most profitable as of Q2 2017 were:
37. Las Vegas-Henderson-Paradise, Nev.
Average home-seller returns: 35%
36. Crestview-Fort Walton Beach-Destin, Fla.
Average home-seller returns: 36%
35. Detroit-Warren-Dearborn, Mich.
Average home-seller returns: 37%
34. Cape Coral-Fort Myers, Fla.
Average home-seller returns: 38%
33. Austin-Round Rock, Texas
Average home-seller returns: 38%
32. Lake Havasu City-Kingman, Ariz.
Average home-seller returns: 38%
31. Spokane-Spokane Valley, Wash.
Average home-seller returns: 39%
30. Salt Lake City, Utah
Average home-seller returns: 41%
29. Riverside-San Bernardino-Ontario, Calif.
Average home-seller returns: 42%
28. Deltona-Daytona Beach-Ormond Beach,Fla.
Average home-seller returns: 42%
27. Greeley, Colo.
Average home-seller returns: 43%
26. Eugene, Ore.
Average home-seller returns: 43%
25. Oxnard-Thousand Oaks-Ventura, Calif.
Average home-seller returns: 44%
24. Nashville-Davidson-Murfreesboro-Franklin, Tenn.
Average home-seller returns: 44%
23. Provo-Orem, Utah
Average home-seller returns: 44%
22. Miami-Fort Lauderdale-West Palm Beach, Fla.
Average home-seller returns: 45%
21. Sacramento-Roseville-Arden-Arcade, Calif.
Average home-seller returns: 46%
20. Reno, Nev.
Average home-seller returns: 47%
19. Prescott, Ariz.
Average home-seller returns: 47%
18. San Diego-Carlsbad, Calif.
Average home-seller returns: 47%
17. Bremerton-Silverdale, Wash.
Average home-seller returns: 48%
16. Urban Honolulu, Hawaii
Average home-seller returns: 48%
15. Stockton-Lodi, Calif.
Average home-seller returns: 49%
14. Boulder, Colo.
Average home-seller returns: 49%
13. Vallejo-Fairfield, Calif.
Average home-seller returns: 50%
12. Dallas-Fort Worth-Arlington, Texas
Average home-seller returns: 51%
11. Salem, Ore.
Average home-seller returns: 52%
10. Fort Collins, Colo.
Average home-seller returns: 53%
9. Los Angeles-Long Beach-Anaheim, Calif.
Average home-seller returns: 53%
8. Boston-Cambridge-Newton, Mass.-N.H.
Average home-seller returns: 57%
7. Portland-Vancouver-Hillsboro, Ore.-Wash.
Average home-seller returns: 59%
6. Santa Rosa, Calif.
Average home-seller returns: 61%
5. Denver-Aurora-Lakewood, Colo.
Average home-seller returns: 62%
4. Modesto, Calif.
Average home-seller returns: 62%
3. Seattle-Tacoma-Bellevue, Wash.
Average home-seller returns: 63%
2. San Francisco-Oakland-Hayward, Calif.
Average home-seller returns: 65%
1. San Jose-Sunnyvale-Santa Clara, Calif.
Average home-seller returns: 75%