The Best Cities for House Flippers Right Now!
I was happy to see Phoenix AZ make #9 on the list and my hometown Denver made #10! ;)
Is your city in the top 10? Do you flip out-of-state? Are you making these kinds of margins?
Realtor.com®’s research team ranked the 100 largest markets by the ratio of flips to all home sales. They defined a flip as any home – single-family, townhome, or condo – that was purchased and resold within a 3- to 12-month time period. (Note: They did not include deals that ended in foreclosure or had a negative profit compared to the original purchase price. Also, they selected no more than two cities per state to feature in its full list available at realtor.com®.)
The following markets topped its list for home flipping meccas:
1. Deltona, Fla.
- Ratio of flips to all home sales: 4.0%
- Median flip profit: $45,830
- Median list price of all homes: $262,000
2. Stockton, Calif.
- Ratio of flips to all home sales: 3.9%
- Median flip profit: $71,050
- Median list price of all homes: $355,000
3. Nashville, Tenn.
- Ratio of flips to all home sales: 3.8%
- Median flip profit: $48,500
- Median list price of all homes: $330,000
4. Tampa, Fla.
- Ratio of flips to all home sales: 3.6%
- Median flip profit: $50,500
- Median list price of all homes: $240,000
5. New Orleans, La.
- Ratio of flips to all home sales: 3.5%
- Median flip profit: $78,300
- Median list price of all homes: $252,000
6. Los Angeles, Calif.
- Ratio of flips to all home sales: 3.0%
- Median flip profit: $89,000
- Median list price of all homes: $675,000
7. Knoxville, Tenn.
- Ratio of flips to all home sales: 2.8%
- Median flip profit: $58,450
- Median list price of all homes: $223,000
Ratio of flips to all home sales: 2.7%
Median flip profit: $76,000
Median list price of all homes: $311,000
9. Phoenix, AZ
Ratio of flips to all home sales: 2.6%
Median price gain: $42,500
Median list price of all homes: $300,000
10. Denver, CO
Ratio of flips to all home sales: 2.5%
Median flip profit: $42,500
Median list price of all homes: $480,000
View the full list as well as more about the study’s methodology used at realtor.com®.
Most Popular Reply
So a better metric IMO would be to weight the outcome with the % gain in value by the flip. High value markets like LA and Denver have very low margins. Homes are expensive, improvements are extensive and % returns are small. Just another bit of information that confirms most Realtors know nothing about flipping or buy and hold.