SAN FRANCISCO – The Bay Area’s housing market is bouncing back, with home prices surging above asking in San Francisco and San Jose. A new report from Redfin reveals that 57.2% of San Francisco homes sold for more than their listed price in February, marking a 7.5 percentage point increase—the largest jump among the nation’s 50 biggest metros.
San Jose followed closely, with a 3.5 percentage point increase. Experts attribute the rise to limited housing inventory and continued demand from tech-driven wealth. Meanwhile, Nassau County, NY, saw a 4.4-point rise.
Despite recent growth, some buyers are pausing in March, hoping for more listings. Still, the Bay Area remains a top market for bidding wars, with San Jose leading nationwide at 67.1% of homes selling above list price.…