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Profits soar on Tampa Bay home sales

By Times Staff Writer
In the final three months of 2017, bay area sellers received 32 percent more than they originally paid for their homes, according to ATTOM Data Solutions. [File photo by Joe Raedle/Getty Images]

Tampa Bay homeowners are reaping nice profits when they sell.

In the final three months of 2017, bay area sellers received 32 percent more than they originally paid for their homes, according to ATTOM Data Solutions. Thatís a higher return on investment than in Orlando and Jacksonville though less than in Miami and Sarasota-Bradenton.

Nationally, profits averaged 29.7 percent, the highest since 2007. The biggest gains were in California, where sellers in San Jose and San Francisco saw average returns on investment exceeding 70 percent.

"Itís the most profitable time to sell a home in more than 10 years yet homeowners are staying put longer than weíve ever seen," said Daren Blomquist, ATTOMís senior vice president. As a result, the shortage of homes for sale is driving up prices ó and profits.