Nearly a quarter of all homes sold for more than the asking price, up from 18% in 2012.
Through 2017, the West Coast saw some of the biggest home value increases over the past decade, and home sellers are seeing big profits as a result, Zillow reported Tuesday.
Nationally, home sellers last year made nearly $39,000, or 21%, when compared with what they originally paid for the home, according to a Zillow® analysis. The typical seller had lived in their home for 8.4 years before selling it.
In San Jose, Calif., the typical home sold in 2017 earned the sellers 54% more than they originally paid for it nine years earlier, the highest profits of the metros analyzed. In the San Jose and San Francisco metros, sellers made more than the median value of a typical U.S. home.