House Flipping In St Louis During 1st Quarter Drops By Sixty-Nine Percent From Year Ago

By Dennis Norman, on May 6th, 2015

House flipping in St Louis accounted for just 2.4 percent of the home sales in the St Louis metro area during the first quarter of this year, according to data just obtained from RealtyTrac.  This is a decline a 69 percent from a year ago when “flips” accounted for 7.7 percent of all St Louis home sales.

Highlights from the 1st Quarter 2015 report:

• There were 115 house flips during the 1st quarter of 2015
• This was a 57% decline from the prior quarter and a 69% decline from the 1st quarter of 2014
• Average days to flip a home during the quarter was 169
• Average purchase price was $79,398, average sale price $101,495
• Average gross margin on flips during the quarter was 22%
• Average gross return on investment during the quarter was 27.8% which is down from 47.9% a year ago

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