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.
Big plans for business in 2018?
Give yourself the tools to own the new year at Connect SF, July 17-20, 2018