According to a recent report, home sellers netted an average of $61,232 in the 3rd quarter of 2018. This is the highest average net gain since the 2nd quarter of 2007 and represents a 32% return on the original purchase price.
Since the recession, many homeowners were left with negative equity in their homes, but the recovery period since has given homeowners their return plus positive equity.
The graph below represents the percentage of equity homeowners gained at the resale price based on when they originally purchased their home.
Although those who purchased at the peak of the market netted less than those who bought before and after the peak, there was still a double-digit profit to be had for all! Many homeowners may believe that they are still in negative equity which may lead potential sellers to stay put for a while. You may be surprised to learn just how much positive equity is in your home now!
Summary: If you are curious about how much equity you’d net if you were to sell your home, contact us for an equity review. We can help you determine the demand for your home in the current market and you just may be surprised to find out just how much you could potentially pocket.