It’s a good time to be flipping homes, especially in a few big cities. In a study conducted by Redfin, flips brought $102,400, on average, in sale price over the original purchase price of homes turned over. That’s better than the average of $98,500 per flip in 2014, and well above the $90,900 that flippers were getting during the last housing boom.
- A new Redfin analysis counted price gains for flipping in individual neighborhoods, and in overall metros in the 28 cities where Redfin has agents.
- Washington, DC, and LA had the best individual neighborhoods, and San Francisco had the best overall gain for a metro.
- Philadelphia, Chicago and Baltimore flippers realized the best percentage gain in price for flipping.