Investors gobbled up 156,862 single family homes and flipped them in 2013, up 16% from 2012 and up 114% from 2011, according to RealtyTrac.
Homes flipped in 2013 accounted for 4.6% of all U.S. single family home sales during the year, up from 4.2% in 2012 and up from 2.6% in 2011.
Flips accounted for 3.8% of all sales in the fourth quarter, down slightly from 3.9% of all sales in the third quarter and down from 7.1% of all sales in the fourth quarter of 2012 — the highest percentage of sales represented by flips in a single quarter since RealtyTrac began tracking flipping data in the first quarter of 2011.
The average gross profit for a home flip was $58,081 for all U.S. homes flipped in 2013, up from an average gross profit of $45,759 in 2012.
The average gross profit for homes flipped in the fourth quarter was $62,761, up from $52,746 in the fourth quarter of 2012.
1. San Jose-Sunnyvale-Santa Clara, Calif.
Average profit: $166,287
Flipped price: $704,762
Number of flips: 202
Average profit: $166,287
Flipped price: $704,762
Number of flips: 202
2. San Francisco-Oakland-Fremont, Calif.
Flipped price: $621,380
Average profit: $154,130
Number of flips: 584
Flipped price: $621,380
Average profit: $154,130
Number of flips: 584
3. Oxnard-Thousand Oaks-Ventura, Calif.
Flipped price: $510,906
Average profit: $143,578
Number of flips: 197
Flipped price: $510,906
Average profit: $143,578
Number of flips: 197
4. Ocean City, N.J.
Flipped price: $467,113
Average profit: $140,716
Number of flips: 53
Flipped price: $467,113
Average profit: $140,716
Number of flips: 53
5. Los Angeles-Long Beach-Santa Ana, Calif.
Flipped price: $513,975
Average profit: $127,634
Number of flips: 2,116
Flipped price: $513,975
Average profit: $127,634
Number of flips: 2,116
6. San Diego-Carlsbad-San Marcos, Calif.
Flipped price: $475,306
Average profit: $120,180
Number of flips: 900
Flipped price: $475,306
Average profit: $120,180
Number of flips: 900
7. Santa Rosa-Petaluma, Calif.
Flipped price: $411,909
Average profit: $113,001
Number of flips: 125
Flipped price: $411,909
Average profit: $113,001
Number of flips: 125
8. Salinas, Calif.
Flipped price: $438,333
Average profit: $100,228
Number of flips: 69
Flipped price: $438,333
Average profit: $100,228
Number of flips: 69
9. Seattle-Tacoma-Bellevue, Wash.
Flipped price: $319,280
Average profit: $97,002
Number of flips: 485Flipped price: $319,280
Average profit: $97,002
Give me a call, I can help you find the perfect house to flip!
Joan Wilson 760-757-3468
Pacific Sotheby's International Realty
Call or Text: 760-757-3468
CAL BRE License # 01341483
