Flipped Houses In St Louis Jumps Nearly 14 Percent During First Quarter

There were 542 homes “flipped” in the St Louis metro area during the first quarter of 2020, or 8.5% of the total number of homes sold in the St Louis metro area during the quarter, according to data just released by ATTOM Data Solutions.  This is an increase of 13.8% from the prior quarter and is a decrease of 2% from a year ago.  The median gross profit was 52,900 a 60.8% gross ROI.

Definition of a  “flipped” home…

For the purposes of this report, a flipped home is considered to be any home or condo that was sold during the first quarter of this year in an arms-length sale that had previously had an arms-length sale within the prior 12 months.  Since homeowners don’t tend to buy a home only to turn around and resell it within a year, when this does occur it is typically the result of an investor buying a property, renovating it, then reselling it.

  

St Louis House Flipping – 1st Quarter 2020

St Louis House Flipping - 1st Quarter 2020© 2019 – St Louis Real Estate News, all rights reserved

Print Friendly, PDF & Email

Comments are closed.