1 of every 17 homes sold in South Florida this year have been “flipped” homes. That’s according to first-quarter numbers from the real estate company RealtyTrac.
That puts the region behind only New York, Jacksonville, San Diego and Las Vegas.
The report defines any home bought and then sold within six months as having been “flipped”.
Home-flippers in South Florida are making relatively big profits, where the average quick-sale earned a 40 percent return on investment compared to the national average of 30%. The average price of a flipped home in South Florida, according to the report: $207,000.