Homes With High Flood Risk Are Selling for Nearly $50,000 More Than Low-Risk Homes as Pandemic Buyers Chase Waterfront Properties

Source: Redfin — 

The typical home with high flood risk sold for $402,010 in the first quarter—a 14% premium over the typical home with low flood risk. That’s double the premium we saw before the pandemic.

The median sale price of homes with high flood risk was $402,010 in the first quarter, compared with $353,783 for homes with low flood risk. That means high-risk homes sold for a record 13.6% premium—up from a premium of 10.1% in the first quarter of 2020 and a premium of 7.2% in the first quarter of 2019.