Home values ââare increasing at historic rates in the United States. The median home price hit an all-time high of $ 310,500 in the third quarter of 2021, up 16% from the same period a year earlier, according to ATTOM data solutions, a provider of real estate and real estate data.
Soaring home values ââare in part the product of growing demand, fueled in part by low mortgage rates. These conditions created a seller’s market unlike anything seen in recent memory. Nationally, the profit margin – the change between purchase and resale prices – on median-priced single-family homes sold in the third quarter was 47.6%, which equates to a profit of $ 100,178 . In many cities across the country, third-quarter profit margins largely eclipsed the national median.
In Arizona’s Lake Havasu City-Kingman metropolitan area, the sale of a typical home in the third quarter of 2021 generated a profit of 72.1% for the seller – the eighth highest profit margin among metropolitan areas American considered. In dollar terms, the typical house in the area sold for $ 129,907 more than it had bought.
As is the case nationally, the region’s high profit margins have been fueled by a historic increase in home values. The typical Lake Havasu City-Kingman metro area home sold for $ 310,000 in the third quarter of 2021, up 8.5% from the median sale price of $ 285,800 the previous quarter and 17 % from median third quarter selling price of $ 265,000. from 2020.
All data in this story was provided by ATTOM Data Solutions. All US metropolitan areas with at least 200,000 residents and at least 1,000 single-family home and condo sales in the third quarter of 2021 were included.
|Rank||subway station||Median home sales profit, Q3 2021 (%)||Median residential sales profit, Q3 2021 ($)||Median Home Selling Price, Q3 2021 ($)|
|1||City of Boise, ID||130.3||251,989||445 313|
|3||Claremont-Liban, NH-VT||93.8||136,783||281 917|
|4||Spokane-Spokane Valley, WA||87.7||171,001||369,000|
|8||Lake Havasu City-Kingman, AZ||72.1||129,907||310,000|
|11||San JosÃ©-Sunnyvale-Santa Clara, California||71.0||515,000||1,240,000|
|12||Austin-Round Rock, Texas||70.9||192 656||465,000|
|14||Grand Rapids-Wyoming, MI||70.0||105,000||255,000|
|15||Port Saint Lucie, Florida||69.4||125,000||303,418|
|19||Raleigh, North Carolina||67.0||143,250||357,000|
|22||Durham-Chapel Hill, North Carolina||65.2||138,500||351,000|
|23||Athens-Clarke County, Georgia||65.2||104,550||265,000|
|24||Green Bay, WI||65.0||90,600||230,000|
|25||Salt Lake City, Utah||64.8||180 874||459,900|
|28||Rochester, New York||63.8||70,100||180,000|
|29||San Francisco-Oakland-Hayward, California||63.6||388,000||995,000|
|31||Palm Bay-Melbourne-Titusville, Florida||62.4||111,000||289,000|
|32||Cape Coral-Fort Myers, Florida||62.2||117,000||304,000|
|33||Tampa-St. Petersburg-Clearwater, Florida||62.1||114,900||300,000|
|37||Sacramento – Roseville – Arden-Arcade, CA||61.6||199,000||525,000|
|38||Phoenix-Mesa-Scottsdale, AZ||61.3||150 100||395 204|
|39||Riverside-San Bernardino-Ontario, CA||60.8||185,500||490,000|
|40||Scranton – Wilkes-Barre – Hazleton, Pennsylvania||60.3||53,400||142,000|