Cape Coral flipped houses fetch higher returns

March 11, 2019 11:25 am

Cape Coral flipped houses fetch higher returns than the national average.

In 2018, the gross flipping profit in Cape Coral-Fort Myers was $70,000. That is according to the 2018 market report from ATTOM Data Solutions.

The gross return on investment of 24% and each took an average of 165 days to flip.

Across the country in 2018 there were 207,957 U.S. single family homes and condos flipped. This is down 4% from the 216,537 in 2017.

Homes flipped in 2018 took an average of 180 days to complete, down from 181 days in 2017 but up from 159 average days to flip 10-years ago.

Nationally, completed home flips in 2018 yielded an average gross profit of $65,000 (the difference between the median purchase price and the median flipped sale price). This is down 3% from an average gross flipping profit of $66,900 in 2017.