Sellers See Biggest Profits Since 2007
Homeowners who sold in 2016 saw an average home price gain since purchase of $38,206 – or a 21 percent, on average, increase since purchase, ATTOM Data Solutions repots in its Year-End 2016 U.S. Home Sales Report. That's up from an average 13 percent gain in 2015, and it is the highest increase since 2007.
The largest metro areas to see the highest average percent gain since purchase for home sellers in 2016 were:
- San Francisco, Calif.: 69% gain
- San Jose, Calif.: 69%
- Santa Rosa, Calif.: 52%
- Los Angeles, Calif. 49%
- Seattle, Wash.: 48%
The median home sales price across the country in 2016 was $218,175, according to ATTOM Data Solutions, which is up 6.8 percent from 2015. Of the 201 largest metro areas with populations of at least 200,000, 179 of the areas posted a year-over-year increase in home prices. Twenty-seven of the metros posted double-digit year-over-year price gains. Notably, the following cities posted the highest gains:
- Tampa-St. Petersburg, Fla.: up 14%
- Jacksonville, Fla.: 12.9%
- Portland, Ore.: 12.1%
- Denver, Colo.: 11.3%
- Orlando, Fla.: 10.1%
Meanwhile, the following counties had the highest actual median home prices in 2016:
- New York County (Manhattan), N.Y.: $1,400,000
- San Francisco County, Calif.: $1,175,000
- San Mateo County, Calif.: $1,075,000
- Marin County, Calif.: $950,000
- Santa Clara County, Calif.: $860,000
Source: RealtyTrac
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