Selling your home? This is what home sellers are making!

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Image 1Home sellers are making huge profits currently with an, average profit of 24.1 percent, or $39,900, in 2016, according to a recent study.

Sellers on the West Coast—where home prices have skyrocketed since the recession—saw higher returns. Sellers in Oakland, California took home the highest profits at 78 percent, or $235,000.

Duration is key. The average seller making a $39,900 profit, the analysis shows, held on to their home for seven years and seven months.

Denver makes the list at number 4 in the top 10 markets:

    
CityMedian Years OwnedDollar Gain on SaleAnnual Dollar Gain on SalePercent Gain on Sale
Oakland, CA7 years,
3 months
$235,000$33,91378.0%
Portland, OR9 years,
1 month
$145,026$16,71464.7%
San Jose, CA9 years,
8 months
$271,150$30,56256.5%
Denver, CO7 years,
7 months
$119,500$18,16256.0%
Los Angeles, CA9 years,
8 months
$200,000$23,20053.7%
Sacramento, CA6 years,
11 months
$82,500$12,00053.6%
Seattle, WA9 years,
2 months
$185,000$20,84053.1%
Philadelphia, PA7 years,
11 months
$40,225$4,19451.7%
New Orleans, LA8 years,
7 months
$81,000$10,47551.5%
Boston, MA7 years,
10 months
$182,500$25,03649.6%
Think you might have enough equity to see a profit that would make it worth it to sell your home? Contact me for a free market analysis to see what your home could sell for!!