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SD home flipping in top 22 counties

There were 1,950 homes flipped in the San Diego-Carlsbad-San Marcos metro area from April 13 through March 14, according to RealtyTrac.

RealtyTrac defines a flip as any property sold during that time period that previously sold within six months.

The San Diego metro area was ranked among the top 22 counties for the most home flips in the past year, all of which had at least 1,000 single-family homes flipped between April 2013 and March 2014.

The average purchase price of a property flip in the San Diego metro area was $332,029 between April 2013 and March 2014, and the average sale price was $450,965. The gross return on investment was 35.82 percent.

Foreclosures were down 22 percent from the first quarter of 2013 to the first quarter of 2014.

The overall median price was $405,000 and the median household income was $61,552. The median home price to household income ratio was 6.58.

The unemployment rate was 6.9 percent in March 2014.

San Diego did not make it on the list of top 10 counties for property flipping.

To make this list counties had to have at least 100 single-family homes flipped in the last 12 months (April 2013 through March 2014); see an average gross return of 30 percent or more on flips during that time period; have an unemployment rate below the national average of 6.7 percent in March, and have an increase in foreclosure activity in the first quarter of 2014 compared to a year ago.

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