Bay Area leads the nation in house flipping profitability
The Bay Area is the most profitable place to buy a house, renovate it and then resell it quickly, making it the best region in the U.S. to “flip” a house, real estate tracking firm RealtyTrac said this week.
RealtyTrac analyzed sales deed data and automated valuation data and included any single-family home or condo flip from the second quarter, where a previous sale on the same property had occurred within the last 12 months.
It found that the markets most likely to make the highest profits were in the Bay Area, in Silicon Valley and in San Francisco/East Bay.
1. San Jose-Sunnyvale-Santa Clara — $145,000
2. San Francisco-Oakland-Hayward — $145,000
3. New York-Newark-Jersey City (New York, New Jersey, Pennsylvania) — $120,000
4. Los Angeles-Long Beach-Anaheim — $115,000
5. Oxnard-Thousand Oaks-Ventura — $110,000
6. San Diego-Carlsbad — $102,500
7. Seattle-Tacoma-Bellevue (Washington) — $99,000
8. Urban Honolulu (Hawaii) — $96,346
9. Washington-Arlington-Alexandria, (District Columbia, Virginia, Maryland, West Virginia) — $96,00
10. Baltimore-Columbia-Towson (Maryland) — $91,542