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It is home to 16 Fortune 500 companies, the hub for Delta Airlines and the location for the world’s busiest airport – the Hartsfield-Jackson International Airport.
While the city itself is well known for these accomplishments – along with its professional and collegiate sports teams – the Atlanta-Sandy Springs-Roswell metro area ranks the ninth most populous metro area in the nation, numbering more than 5.7 million residents living within its roughly 8,686 square miles.
Comprised of 29 counties in all, the Atlanta metro area topped the nation’s top 10 metro areas for the number of flipped homes during the third quarter of 2019.
Q3 2019 Home Flipping Figures for the Atlanta Market
|Total Number of Flips||2,434|
|Home Flipping Rate||8.2%|
|Flipping Gross Profit||$47,000.00|
|Gross Return on Investment||29.4%|
Other third quarter of 2019 home flipping data figures for the Atlanta metro area include:
- Quarterly change in flipping rate was down 6 percent
- Year Over Year change in flipping rate was up 35 percent
- Median purchase price = $160,000
- Median flipped price = $207,000
Gross ROI for flippers in the Atlanta metro area declined 36 percent from the same quarter last year. Home flips in the metro area are down from their peak during the second quarter of 2006 when they numbered 6,881.
In all, 68.3 percent of all flipped homes in the Atlanta metro area purchased during the the third quarter of 2019 were paid for with cash, while 31.7 percent were financed. Of the flipped homes sold during the quarter 30.1 percent were purchased with cash and 12.7 percent were bought by FHA buyers.
Flipped homes completed in the Atlanta metro area during the third quarter of 2019 took an average of 149 days to finish.