According to ATTOM Data Solutions, home sellers nationwide in Q2 of 2017 saw an average price gain of $51,000 since their purchase. This represents a 26% average return on the previous purchase price of the home. That is the highest average we have seen since Q3 of 2007. The report also shows that homeowners who sold in Q2 had owned those homes for an average of 8.05 years.
When you zoom in and look at our local numbers, our MSA (Metropolitan Statistical Area) of Seattle-Tacoma-Bellevue, saw an average price gain since purchase of $165,000, which is an average return since purchase of 63.5%. Out of 118 MSA’s, Seattle was 3rd highest in terms of highest average home seller returns, surpassed only San Jose and San Francisco.
With our continued lack of inventory and supply of housing, it seems like prices will continue to rise for the near future.