House Flippers Profit in Mecklenburg County

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House Flippers Profit in Mecklenburg County

Mecklenburg County house flippers have seen a higher return in gross profits in this year’s first quarter compared to the same time last year.

Last year’s average gross profit in the first quarter amounted to $41,134 in comparison to the latest quarter seeing a gross profit of $59,000, according to RealtyTrac.com.

About 6.5% of condo and single family home sales were flipped homes, accounting for 251 house flips in the first quarter.

RealtyTrac defined a flipped home as one that is bought and resold within the year. The average return on investment was up 44.3% from a year ago, reaching 59%.

The U.S. had a total of 43,740 flipped homes in the latest quarter, making up 6.6% of sales overall. In the first quarter of 2006 house flipping was at its highest, accounting for 9% of all sales. In 2014 house flippers took a hit, only making up 4.3% of sales in the third quarter.

House flipping investors saw a return of approximately 47.8%, which is an average gross profit of $58,250 excluding expenses. Investing has seen an increase over last year’s numbers when the average gross profit was slightly lower at $53,000 or 45.3%.

House Flippers Profit in Mecklenburg County

Across the nation, house flippers projects took approximately 179 days to be completed in the last quarter, which was an increase from 176 days in 2015. House flippers in Mecklenburg County actually saw a decrease in project time, with the average project lasting 165 days, down from 174 days last year.

Metro Areas with the Most Flips:
Memphis – 13.3 %
Clarksville – 12.5 %
Tennessee – 12.5%
Deltona-Daytona Beach – 11.8%
Florida – 11.8%

Metro Areas with Best Return on Investment:
East Stroudsburg – 212%
Reading – 136%
Pittsburgh – 127%

House flippers in Mecklenburg County have certainly created a lot of great opportunities for home owners in the area. Have you ever thought about buying a property in the Mecklenburg area? We’d love to assist you! Browse our Mecklenburg County Homes For Sale to find the perfect property for you!

Ready to sell your property? Click here to get a home valuation and learn your home’s worth! Questions? Send us a message here or call Showcase Realty directly at 704.997.3794.

If you decide you don’t like your home we will sell it for free. *some conditions apply*

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