Kirkland, Washington, the Seattle suburb that had one of the nation’s first clusters of Covid-19 cases at its Life Care Center nursing home early last year, led the U.S. for home-flipping profits during 2021’s second quarter, according to an AATOM report ranking the nation’s zip codes.
A typical home flip in the 98033 zip code, which is the section of the city bordering Lake Washington where waterfront homes have views of the Seattle skyline, had a profit of $516,500, the AATOM report said on Friday. Home flippers are real estate investors who buy a home, often a fixer-upper, and renovate it to sell at a profit.
Citywide, homes in Kirkland sold at a median price of $715,900 in the second quarter, more than double the U.S. median price for the same period, according to data from the National Association of Realtors. Prices rose 25% in Kirkland from 2020’s second quarter, a faster pace than the 23% gain nationwide, NAR said.