The average profit people made on home sales in the final quarter of 2017 reached a more than 10-year high, according to a new report published Thursday. In North Carolina, the average profit people made on home sales in the final quarter of 2017 was $22,500, or a 14 percent gain.
According to ATTOM Data, the average profit home sellers made in the final quarter of 2017 was $54,000, which represented an average 29.7 percent return on investment compared to the original purchase price. That represents an increase from a 28.8 percent ROI in the previous quarter and an increase from a 26.8 percent ROI over a one year period.
Among the top five metropolitan areas with the highest average home seller ROI in the last quarter of 2017, four were in California. According to ATTOM, those areas are:
San Jose, California (90.1 percent ROI)
San Francisco, California (73.3 percent ROI)
Merced, California (64.6 percent ROI)
Seattle, Washington (64.4 percent ROI)
Santa Cruz, California (59.8 percent ROI)
Here’s what the average seller gains were in North Carolina metropolitan areas:
Raleigh, NC — $46,000 Durham-Chapel Hill, NC — $40,000 Charlotte-Concord-Gastonia, NC-SC — $36,000 Winston-Salem, NC — $10,500 Greensboro-High Point, NC — $5,000
The median home price in 2017 also reached a new all-time high, according to ATTOM. In 2017, the U.S. median home price was $235,000. In North Carolina, the median home sale price was $185,000, an increase of 6 percent compared to the previous year.
ATTOM collects data from recorded sales deeds, foreclosure filings and loan data. Median sales price is calculated based on the publicly recorded sales deed when available.
Photo via Pixabay
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