U.S. Home Sellers in March Earned Biggest Gains Since 2007

U.S. homeowners who sold their homes in March 2016 earned an average rate of 17% or average amount of $30,500 over the amount they originally paid for their homes, the highest average rate or amount gained by home sellers since December 2007, according to RealtyTrac’s report, based on studies of county sales deeds in more than 900 counties across the U.S. December 2007 is often considered the start of the U.S. recession that arose from the collapse of the U.S. housing industry.

Among 125 metro areas with at least 300 home sales in March 2016, the five metro areas with the biggest average rates of gains were:

San Francisco, California      72 %
San Jose, California              60%
Boulder, Colorado                 53%
Prescottt, Arizona                 51%
Los Angeles, California         48%

In metro areas in the state of Florida, these were the average home price gains in March 2016:

AVERAGE PRICE GAINS for HOMES SOLD in MARCH 2016 in Metro Areas with at least 300 homes sold

Rank Metro Area Sale Price
1 Naples-Immokalee-Marco Island $61,150
   (Collier County)
2 North Port-Sarasota-Bradenton $53,000
   (Manatee and Sarasota Counties)
3 Miami-Fort Lauderdale-West Palm Beach $50,000
   (Broward, Miami-Dade and Palm Beach Counties)
4 Cape Coral-Fort Myers $46,205
   (Lee County)
5 Port St. Lucie $38,600
   (Martin and St. Lucie Counties)
6 Palm Bay-Melbourne-Titusville $27,050
   (Brevard County)
7 Deltona-Daytona Beach-Ormond Beach $26,000
   (Volusia County)
8 Orlando-Kissimmee-Sanford $23,000
   (Lake, Orange, Osceola and Seminole Counties)
9 Tampa-St. Petersburg-Clearwater $21,500
10 Lakeland-Winter Haven $19,100
   (Polk County)
   (Hernando, Hillsborough, Pasco and Pinellas Counties)
11 Pensacola-Ferry Pass-Brent $9,170
   (Escambia and Santa Rosa Counties)
12 Jacksonville $6,900
   (Baker, Clay, Duval, Nassau and St. Johns Counties)
13 Tallahassee $5,750
   (Gadsden, Jefferson, Leon and Wakulla Counties)
14 Ocala $5,275
   (Marion County)

As seen in the ranking above, the Tampa metro area is around the middle, indicating that despite the increase in average and median home prices in the Tampa metro area, Tampa Bay homes are still among the most affordable in Florida.

Combined with the lower cost of living index in the Tampa Bay metro area, the affordability of home prices despite price increases helps make Tampa and its environs attractive to families looking for a place to move to. When it’s time to sell, homeowners can also expect to earn from price gains despite lower average rates of gains compared to Florida metro areas with wealthier neighborhoods.

Based on average rates of gains, the North Port-Sarasota-Bradenton metro area posted the biggest:

1  North Port-Sarasota-Bradenton     33.8%
2. Cape Coral-Fort Myers     32.9%
3. Miami-Fort Lauderdale-West Palm Beach     31.3%
4.  Port St. Lucie     29.7%
5. Naples-Immokalee-Marco Island     25.6%
6. Palm Bay-Melbourne-Titusville    22.1%
7. Deltona-Daytona Beach-Ormond Beach     20.2%
8. Tampa-St. Petersburg-Clearwater     16.3%
9.  Lakeland-Winter Haven     16.2%