The return on investment for flipping homes in Baton Rouge dropped by more than half last quarter—from 107% to 53%—according to data released from Attom Data Solutions.
Baton Rouge was listed among the cities that saw the largest ROI drops for the second quarter of 2019, which also included Raleigh, North Carolina, Savannah, Georgia, San Antonio, Texas, and Springfield, Missouri.
Flipped homes in Q2 had a medium sold price of $220,000, with a gross profit of $62,700 on those houses. That figure is higher than the $61,500 profit logged in the previous quarter, but down the $64,000 figure posted in last year’s Q2.
Overall, flips are up nearly 13% from the previous quarter, but down 5.2% from last year. Nearly 60,000 single-family homes and condominiums were flipped in Q2. Flips represented 6% of all home sales in Q2—lower than the post-recession high of 7.2% in Q1, but higher than the 5.4% from last year.
