Most home sellers are seeing plenty of equity when selling their home. In March, sellers on average sold for $30,500 more than what they had paid for their home–a 17 percent gain, according to RealtyTrac’s March and First Quarter 2016 Home Sales Report.
That marks the highest average price gain for sellers in any month since December 2007, the onset of the Great Recession.
“Home sellers in many markets are now seeing average price gains close to or above what home sellers experienced during the last housing boom,” says Daren Blomquist, RealtyTrac senior vice president. “That should encourage more home owners to take advantage of the prime seller’s market and list their homes for sale this year.”
The report reveals that sellers are seeing the largest average gains in the following metros:
- San Francisco: 72% average gain
- San Jose, Calif.: 60%
- Boulder, Colo.: 53%
- Prescott, Ariz.: 51%
- Los Angeles: 48%
- Denver: 42%
- Portland: 40%
- Austin: 40%
- Seattle: 38%
- Baltimore: 38%
- Riverside-San Bernardino, Calif.: 37%
- San Diego: 36%
- Sacramento: 35%
Source: “Sellers See Highest Price Gains in Years” (REALTOR Mag, realtor.org, April 2016)