According to ATTOM’s Q3 2024 U.S. Home Flipping Report, a total of 74,618 single-family homes and condominiums were flipped across the United States. These transactions accounted for 7.2% of all home sales nationwide, equivalent to one in every 14 sales, during the months of July through September.
WATCH: ATTOM #FiguresFriday – Top 10 Counties with Highest Home Flipping Profit
ATTOM’s latest home flipping analysis revealed that the share of flipped properties dropped to 7.2% in the third quarter of 2024, down from 7.6% in the previous quarter. This decline aligns with a typical trend during the Spring and Summer homebuying seasons, when other types of sales typically increase. The flipping rate returned to the same 7.2% level observed in the third quarter of 2023.
The report stated the nationwide, home flipping in the third quarter of 2024 yielded an average return on investment of 28.7% before expenses. This marks a decline from 31.2% in the previous quarter, following six consecutive quarters of growth that had pointed to significant improvement in the flipping industry.
The latest home flipping analysis also found that typical gross profits on home flips nationwide dropped to approximately $70,000 in the third quarter, reflecting a decline of about $5,000 from the previous quarter and $10,000 from the peak two years ago. However, this figure remained slightly higher than in the third quarter of 2023.
In this post, we take a more granular look at the data behind ATTOM’s latest U.S. Home Flipping Report to reveal the top 10 U.S. counties with the highest home flipping profit in Q3 2024. Among those counties with a population greater than 100,000 and 25 or more home flips in the third quarter, those with the highest home flipping profit in Q3 2024 include:
#1 – Queen Anne’s County, MD
- $373,222 gross profit in Q3 2024
#2 – Wasatch County, UT
- $351,250 gross profit in Q3 2024
#3 – Pitkin County, CO
- $350,000 gross profit in Q3 2024
#4 – Kendall County, IL
- $348,500 gross profit in Q3 2024
#5 – De Kalb County, IL
- $299,500 gross profit in Q3 2024
#6 – San Francisco County, CA
- $299,000 gross profit in Q3 2024
#7 – Williamson County, TN
- $296,085 gross profit in Q3 2024
#8 – Butler County, PA
- $282,400 gross profit in Q3 2024
#9 – Geauga County, OH
- $280,125 gross profit in Q3 2024
#10 – San Mateo County, CA
- $279,000 gross profit in Q3 2024
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Written by: Megan Hunt