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
Portland, OR9 years,
1 month
San Jose, CA9 years,
8 months
Denver, CO7 years,
7 months
Los Angeles, CA9 years,
8 months
Sacramento, CA6 years,
11 months
Seattle, WA9 years,
2 months
Philadelphia, PA7 years,
11 months
New Orleans, LA8 years,
7 months
Boston, MA7 years,
10 months
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!!