ATTOM Data Solutions, Irvine, today released its Year-End and Q4 2017 U.S. Home Sales Report, which shows that home sellers in Q4 2017 realized an average home price gain since purchase of $54,000, up from $53,732 in the previous quarter and up from $47,133 in Q4 2016 to the highest since Q3 2007 — a more than 10-year high.
That $54,000 average home seller profit represented an average 29.7% return on investment compared to the original purchase price, up from 28.8% in the previous quarter and up from 26.8% in Q4 2016 to the highest average home seller ROI since Q3 2007.
“It’s the most profitable time to sell a home in more than 10 years yet homeowners are staying put longer than we’ve ever seen,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. “While home sellers on the West Coast are realizing the biggest profits, rapid home price appreciation in red state markets is rivaling that of the high-flying coastal markets and producing sizable profits for home sellers in those middle-American markets as well.”
Among 155 metropolitan statistical areas with sufficient historical data, those with the highest average home seller ROI were San Jose, California (90.9% ROI); San Francisco, California (73.3%); Merced, California (64.6%); Seattle, Washington (64.4%); and Santa Cruz, California (59.8%). read more…