Home Sellers Make Huge Profits in Athens, GA |
Home values are increasing at historic rates in the United States. The median home price hit a record 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 property data.
Soaring home values are 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 the Athens-Clarke County metropolitan area, located in Georgia, the sale of a typical house in the third quarter of 2021 generated a profit of 65.2% for the seller – the 23rd highest profit margin among metropolitan areas American considered. In dollar terms, the typical house in the area sold for $ 104,550 more than it was bought.
As is the case nationally, the region’s high profit margins have been fueled by a historic increase in home values. The typical Athens-Clarke County metropolitan area home sold for $ 265,000 in the third quarter of 2021, up 3.9% from the median sale price of $ 255,000 the previous quarter and 15 % of the median selling price of $ 230,500 in the third quarter of 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 José-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|