Homeowners who sold their homes in 2017 saw a median nominal gain of $38,856, while sellers in some West Coast cities saw up to six-figure profits.
2016 and 2017 were the highest gaining years since before the financial crisis, Zillow Research reports. In San Jose, Calif., homeowners saw the greatest average gain in 2017, at $222,000, or a 34.4 percent gain on investment, after adjusting for inflation.
Other six-figure cities included other California metros, such as San Francisco, Los Angeles, and San Diego as well as Seattle. At the neighborhood level, La Gorce, in Miami Beach, Fla., was the only community in the top 100 that wasn’t located in San Francisco, Seattle, San Jose, or Los Angeles.
Not all areas saw gains, though: Homeowners in eight of the 35 top metros saw losses on average in 2017, including those in Chicago, Cleveland, Cincinnati, and Philadelphia.
