Homeowners in this market sold for 78% more than they paid

Oakland, CA has topped the list of cities where home sellers saw the greatest return on their initial purchase price.

A typical seller in the metro in 2016 sold for an average $590,000, 78% more than they paid for it just over 7 years earlier.

An analysis by Zillow shows that nationally, buying is better than renting for those planning to live in the home for at least two years and one month.

"The housing market can change a lot in 10 years, and you see that reflected in this top 10 list," said Zillow Chief Economist Dr. Svenja Gudell. "Every city on this list has been growing extremely fast over the past decade, with the majority passing peak home value hit during the housing bubble."

Three cities in the list have double-digit home value growth year-over-year: Seattle, 15.5%; Boston, 11%; and Sacramento, 10.9%.

 

Top 10 Cities Where Home Sellers Cashed Out on Record Home Values
Rank	City	Median Years Owned	Dollar Gain on Saleii	Annual Dollar Gain on Sale	Percent Gain on Sale
1	Oakland, Calif.	7 years 3 months	$ 235,000	$ 33,913	78.0%
2	Portland, Ore.	9 years 1 month	$ 145,026	$ 16,714	64.7%
3	San Jose, Calif.	9 years 8 months	$ 271,150	$ 30,562	56.5%
4	Denver	7 years 7 months	$ 119,500	$ 18,162	56.0%
5	Los Angeles	9 years 8 months	$ 200,000	$ 23,200	53.7%
6	Sacramento, Calif.	6 years 11 months	$ 82,500	$ 12,000	53.6%
7	Seattle	9 years 2 months	$ 185,000	$ 20,840	53.1%
8	Philadelphia	7 years 11 months	$ 40,225	$ 4,194	51.7%
9	New Orleans	8 years 7 months	$ 81,000	$ 10,475	51.5%
10	Boston	7 years 10 months	$ 182,500	$ 25,036	49.6%