Thursday
August 25, 2016

The Luckiest Home Owners Live Here

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The Luckiest Home Owners Live Here

Some home owners may be having some Irish luck and finding a big pot of home equity.

And, Las Vegas may have the luckiest home owners of all. Home shoppers who purchased a home in the Las Vegas metro area in January 2012 may have seen their home value increase a whopping 75 percent, on average.

Zillow recently pinpointed in which markets home buyers who purchased at the bottom of their local housing market have since gained the most equity.

The following top 10 housing markets are seeing some of the highest equity gains:

1. Las Vegas, Nev.

  • Month purchased: January 2012
  • Purchase value: $114,600
  • Current value: $200,400
  • Value growth: 74.9%

2. San Jose, Calif.

  • Month purchased: August 2011
  • Purchase value: $555,700
  • Current value: $940,000
  • Value growth: 69.2%

3. San Francisco, Calif.

  • Month purchased: November 2011
  • Purchase value: $481,000
  • Current value: $790,700
  • Value growth: 64.4%

4. Phoenix, Ariz.

  • Month purchased: August 2011
  • Purchase value: $134,400
  • Current value: $217,400
  • Value growth: 61.8%

5. Miami, Fla.

  • Month purchased: October 2011
  • Purchase value: $141,400
  • Current value: $227,200
  • Value growth: 60.7%

6. Sacramento, Calif.

  • Month purchased: January 2012
  • Purchase value: $210,000
  • Current value: $334,400
  • Value growth: 59.2%

7. Riverside, Calif.

  • Month purchased: November 2011
  • Purchase value: $188,200
  • Current value: $298,900
  • Value growth: 58.8%

8. Detroit, Mich.

  • Month purchased: August 2011
  • Purchase value: $77,100
  • Current value: $121,900
  • Value growth: 58.1%

9. Denver, Colo.

  • Month purchased: August 2011
  • Purchase value: $207,300
  • Current value: $324,500
  • Value growth: 56.5%

10. Orlando, Fla.

  • Month purchased: November 2011
  • Purchase value: $119,900
  • Current value: $181,500
  • Value growth: 51.4%

Source: “Irish Luck? These Home Buyers Are Rolling in the Green,” RISMedia (March 16, 2016)