Home Sellers Are Making Bank In Todays Market

Home Sellers Are Making Bank In Todays Market

Home sellers are making bank in today’s market, realizing a 24.1 percent, or $39,900, gain in 2016, according to a recent analysis by Zillow.Sellers on the West Coast—where home prices have rocketed since the recession—saw higher returns, with those in Oakland, Calif., taking home the most at 78 percent, or $235,000.

Duration is key. The average seller turning a $39,900 profit, the analysis shows, held on to their home for seven years and five months. The average seller in Oakland hung on to their home for seven years and three months.

The top 10 markets:


Zillow_Sellers



Zillow_Sellers“The housing market can change a lot in 10 years, and you see that reflected in this top 10 list,” says Dr. Svenja Gudell, chief economist at Zillow. “Buying a home is one of the biggest financial decisions people will make in their lifetime, and it really paid off for sellers in these cities. Every city on this list has been growing extremely fast over the past decade, with the majority passing peak home value hit during the housing bubble.

”The ability to amass wealth over the long term makes real estate the No. 1 investment for most Americans, despite proven results from stocks and other vehicles.“It’s extremely difficult to time the market, but if you’re a longtime homeowner in one of these cities, you could potentially see a great return on your investment,” Gudell says.


Justin Burnham Headshot
Author:
Phone: 949-241-5005
Dated: September 7th 2017
Views: 23
About Justin: Justin Burnham is a real estate veteran of over 10 years. As a life-long resident of Orange County, ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Home Staging Can Pay For Itself And Increase Equity - Getting ready to sell a home can
Breaking Down The 50 Plus Market - The 50+ real estate market is
Home Sellers Are Making Bank In Todays Market - Home sellers are making bank in
5 Ways To Save Money And Energy This Summer - Home improvements may improve the

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

The Kurt Real Estate Group - Kurt Galitski
2973 Harbor Blvd. #532
Costa Mesa, CA
714-975-9705


Other Locations