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Home flipping was risky, if not toxic, during the housing downturn. The ability to quickly buy and sell a home has become a more viable way to make money since the market has recovered radically. In nine markets, home flippers make over $100,000 a home.

According to the second-quarter 2016 U.S. Home Flipping Report:

[A] total of 51,434 U.S. single family home and condo sales were completed flips in the second quarter of 2016, up 14 percent from the previous quarter and up 3 percent from a year ago to the highest number of home flips since Q2 2010 — a six-year high.

For the report, a home flip is defined as a property that is sold in an arms-length sale for the second time within a 12-month period based on publicly recorded sales deed data collected by ATTOM Data Solutions in more than 950 counties accounting for more than 80 percent of the U.S. population.

Homes flipped in Q2 2016 accounted for 5.5 percent of all single family and condo sales during the quarter, down from 6.7 percent of all sales in the first quarter but up from 5.4 percent of all sales in Q2 2015.

A total of 39,775 investors (including both individuals and institutions) completed at least one home flip in Q2 2016, the highest number of home flippers since Q2 2007 — a nine-year high.

The practice has recently been a successful one across the whole country, on average\Homes flipped in Q2 2016 sold on average for $189,000, $62,000 more than the average purchase price of $127,000, according to ATTOM data. That $62,000 average gross profit was up from an average $59,250 gross flipping profit in the previous quarter and up from an average $57,900 gross flipping profit in Q2 2015 to the highest average gross flipping profit since Q1 2000, the earliest quarter tracked in the report.

The average loan amount for rehab loans originated by AssetAvenue so far in 2016 was $193,786, according to CEO Pathria.

The $62,000 average gross flipping profit represented an average 48.8 percent return on the original purchase price, down from a 49.3 percent average gross flipping ROI in the previous quarter but up from a 47.5 percent average gross flipping ROI in Q2 2015.

And in nine markets, the profits were over $100,000 per transaction:

There were nine metro areas where the average gross flipping profit in Q2 2016 was more than $100,000: San Jose, California ($161,000); San Francisco ($146,000); Los Angeles ($125,000); New York ($124,160); San Diego ($111,250); Oxnard-Thousand Oaks-Ventura, California ($110,000); Baltimore ($105,000); Washington, D.C. ($104,500); and Seattle ($102,900).

No shock that Silicon Valley and rich parts of California lead the list.