New York City ranked 3rd in 2015 home-flipping

RealtyTrac report shows number of investors completing flips hit highest numbers since 2007
  • Nationwide, the number of active home flippers is at the highest level seen since 2007, the report says.
  • Ratio of flips per investors dropped to its lowest levels since 2008, indicating a clearer market for small investors or entry-level flippers. There were 1.63 home flips per investor last year.
  • New York County, also known as Manhattan, had 41 home flips in 2015 with a median purchase price of $1,175,000.
  • In the NYC metro, specifically, 77 percent of the flips completed in 2015 were purchased in all-cash, which is higher than the national average.

In its 2015 Q4 Home Flipping Report, RealtyTrac found New York City as the third-highest grossing metro in the nation, with $120,000 average profit from home flips in 2015. New York City was only surpassed by San Francisco and San Jose, which tied for first with $145,000 in average gross profit each.