Key Highlights
- Raw-profit and ROI figures from typical home sale during Q3 2020 at highest points since 2012
- Typical home sale generated $85,000, an increase of +38.6% compared to original purchase price
- Typical profit margins, percentage change between median purchase and resale prices, increased in 86% of US metro areas from Q3 2019 to Q3 2020
In another post summarizing findings in ATTOM data Solutions Q3 2020 US Home Sales Report just released, we indicated that a typical home sale during Q3 2020 generated a gain of $85,000 for homeowners in or a 38.6% gain in ROI compared with Q2 2020.
ATTOM’s Q3 2020 home sales analysis also indicated that the typical profit margins between median purchase and resale prices rose in 86% of metros areas, or 89 of 103 metros, with at least 1,000 single-family and condo sales compared to Q3 2019.
The West had the largest profit margins in the country with 14 of the top 15 typical home-sale ROI in Q3 2020. The leaders of those metros included:
- San Jose CA – 89% return
Salem OR – 73.9% return - Seattle WA – 73% return
- Spokane WA 70.3% return
- Salt Lake City UT – 65.1% return
Metros with the biggest annual increases in profit margins included:
- St. Louis MO – margins up from 22.4% to 37.1%
- Columbus OH – up from 37.1% to 51.6%
- Salem Or – up from 60.6% to 73.9%
- Indianapolis IN – up from 32.7% to 46%
- Akron OH – up from 20.7% to 33.7%
Metros with the greatest home-seller dollar gains included:
- San Jose-Sunnyvale-Santa Clara – $565,000
- San Francisco-Oakland-Hayward – $375,500
- Los Angeles-Long Beach-Anaheim – $254,00
- Seattle-Tacoma-Bellevue WA – $230,000
- San Diego-Carlsbad – $219,250
ATTOM ‘s Q3 US Home Sales Report also indicated that every major metro area saw home values rise. Metros with the biggest y/y increases in median home prices included:
- Bridgeport CT – +29.7%
- Detroit MI – +27.4%
- New Haven CT – +20.1%
- Birmingham AL – +19.7%
- Indianapolis IN – +19.3%
Thanks to ATTOM Data Solutions.
Also read: eXp World Holdings Q3 2019 – Major Gains & Narrowing Losses, September Set Records for Price, Sales, New Listings & Speed, Cities with Greatest Annual Home Seller Gains in Q2 2020
