Per usual, ATTOM Data Solutions Q3 2019 Home Sales Report is chock full of useful information. One such tidbit is the list of top 10 metros with the highest home seller gains.
Top 10 Metros with Highest Seller Gains in Q3 2019
San Jose +82.2%
San Francisco +72.0%
Salem OR +60.6%
Salt Lake City +59.6%
Santa Rosa CA +57.7%
Ogden-Clearfield UT +56.9%
Boise City ID +56.8%
Bremerton WA +56.6%
The median price of single-family homes and condominiums was $470,000, an increase of +2.9% from Q2 2019 and +8.3% in Q3 2018.
Homeowners who sold their homes in Q3 2019 earned a median profit of +34.9%, a post recession high, with an average home seller gain of $68,686. This $68,686 represented a +34.5% return as the percentage of the home’s original purchase price.
The average home seller gain in Q2 2019 was $66,995 and in Q3 2018, that gain was $63,750.
Homeowner tenure reached a new high of 8.19 years in Q3 2019. This 8.19 years is more than two times homeowner tenure during the last real estate boom in the early/mid 2000’s and up from 7.97 years in Q2 2019 and 7.91 years in Q3 2018.
Among the 108 metros analyzed in this report, 61% saw an increase in homeowner tenure and 39% saw a decrease. Among the metros with at least 1M people, the longest average homeownership tenures were in
– Hartford CT 12.43 years
– San Jose 10.92 years
– Providence RI 10.75 years
– San Francisco 10.69 years
– Boston 10.6 years