Homeowners in West Coast cities made the most money selling last year 

The West Coast may hold the best returns for homeowners looking to sell, Aaron Terrazas, economic research director at Zillow, told CNBC.

According to a brand-new report coming from Zillow, Bay Area locales such as San Francisco in addition to San Jose, California, as well as Los Angeles have median selling profits of more than $100,000 — nearly $300,000 in some markets. In San Jose, the top city from the report in addition to the most expensive market, the median profit for selling your home is actually $296,000. Here’s the catch: The median cost of a home from the same city is actually $1.3 million.

“In most of the markets, where sellers sold last year, they didn’t make enough on their house to afford a 20 percent down payment,” Terrazas said Wednesday on “Power Lunch.” “at This specific point, if you’re gainfully employed, maybe you have stock options from the Bay Area, which’s fine. however if you’re a retiree on a fixed income, your options are pretty limited. You either stay put or move away.”

Most of the best returns were along the West Coast. San Francisco homeowners who cashed in made a median $222,000. In Los Angeles the median was $137,000; in Seattle the idea was $123,000; in San Diego, California, the idea was $108,000, in addition to in Portland, Oregon, the idea was $87,000.

Meanwhile, Midwestern cities Cleveland in addition to Chicago came in at the bottom of the list, with median returns of $16,000 in addition to $20,000 respectively. In Chicago, when factoring in inflation, the idea was actually a loss for homeowners.

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