According to Zillow, holding onto your home for a long period of time over the last decade meant a serious return on investment, especially in some of the nation’s hottest housing markets. Zillow reports housing markets like Oakland, Calif. and Portland, Ore. top the list of U.S. cities where home sellers saw the greatest return.
In Oakland, the typical seller in 2016 sold their home for an average of $590,000 after living in it for just over seven years, which is 78 percent more than what they initially paid. In Portland, the typical 2016 seller sold for about $145,000 more than what they paid nine years earlier, a 65 percent gain.
Zillow Report Highlights Also Include:
- Home sellers in the West Coast’s hottest cities saw the greatest return on their investment when they sold in 2016, especially in Oakland, Calif. and Portland, Ore.
- In Oakland, the typical seller in 2016 sold their home for an average of $590,000 after living in it for just over seven years, which is 78 percent more than what they initially paid.
- Nationally, home sellers in 2016 sold for 24 percent more than what they initially paid, after living it for about 7 ½ years. That’s about a $40,000 gain.
Courtesy of worldpropertyjournal and credited to Michael
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