SAN FRANCISCO, CA – Homebuyer competition is heating up in the Bay Area, with San Francisco leading the nation in rising home sales above the asking price. According to a recent Redfin report, 57.2% of homes in the city sold above their listed price in February, marking a 7.5 percentage point increase from the previous year—the largest jump among the nation’s top 50 metro areas.
San Jose followed closely, with a 3.5 percentage point increase, while Oakland and Nassau County, NY, also saw notable gains. Experts attribute the trend to limited inventory and the ongoing strength of the tech industry. Meanwhile, cities like San Diego and Anaheim experienced the opposite trend, with more homes selling below asking price due to increased housing supply.
Source: Redfin (www.redfin.com)
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