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Big City Comeback: Homebuyer Competition Is Rising Fastest in the Bay Area, New York

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Redfin (NASDAQ: RDFN) reports a significant shift in homebuyer competition, particularly in major urban areas. San Francisco leads with 57.2% of homes selling above list price, marking a 7.5 percentage point increase year-over-year - the highest among top 50 metros. Other notable increases were seen in Nassau County (+4.4 pts) and San Jose (+3.5 pts).

Nationwide, 20.5% of homes sold above list price in February, down from 22.8% last year. The Bay Area shows strong market resilience with San Jose leading at 67.1% of homes selling above asking price, followed by Oakland (57.7%) and San Francisco (57.2%). Inventory has improved in the Bay Area, with active listings up 5.8% in San Francisco, 27% in San Jose, and 38.7% in Oakland.

In contrast, Florida and Texas markets show different trends, with West Palm Beach having 88.2% of homes selling below list price, followed by Fort Lauderdale (85.7%) and Miami (83.7%).

Redfin (NASDAQ: RDFN) riporta un cambiamento significativo nella competizione tra acquirenti di case, in particolare nelle grandi aree urbane. San Francisco guida con il 57,2% delle case vendute a un prezzo superiore a quello richiesto, segnando un aumento di 7,5 punti percentuali rispetto all'anno precedente - il più alto tra le prime 50 aree metropolitane. Altri aumenti notevoli sono stati registrati nella Contea di Nassau (+4,4 pts) e a San Jose (+3,5 pts).

A livello nazionale, il 20,5% delle case è stato venduto a un prezzo superiore a quello richiesto a febbraio, in calo rispetto al 22,8% dell'anno scorso. L'Area della Baia mostra una forte resilienza del mercato, con San Jose che guida con il 67,1% delle case vendute a un prezzo superiore a quello richiesto, seguita da Oakland (57,7%) e San Francisco (57,2%). L'inventario è migliorato nell'Area della Baia, con gli annunci attivi aumentati del 5,8% a San Francisco, del 27% a San Jose e del 38,7% a Oakland.

Al contrario, i mercati della Florida e del Texas mostrano tendenze diverse, con West Palm Beach che ha l'88,2% delle case vendute a un prezzo inferiore a quello richiesto, seguita da Fort Lauderdale (85,7%) e Miami (83,7%).

Redfin (NASDAQ: RDFN) informa sobre un cambio significativo en la competencia de los compradores de viviendas, especialmente en las principales áreas urbanas. San Francisco lidera con el 57.2% de las casas vendidas por encima del precio de lista, marcando un aumento de 7.5 puntos porcentuales en comparación con el año anterior, el más alto entre las 50 principales áreas metropolitanas. Otros aumentos notables se observaron en Condado de Nassau (+4.4 pts) y San José (+3.5 pts).

A nivel nacional, el 20.5% de las casas se vendieron por encima del precio de lista en febrero, una disminución del 22.8% del año pasado. El Área de la Bahía muestra una fuerte resiliencia del mercado, con San José liderando con el 67.1% de las casas vendidas por encima del precio solicitado, seguido de Oakland (57.7%) y San Francisco (57.2%). El inventario ha mejorado en el Área de la Bahía, con listados activos que aumentaron un 5.8% en San Francisco, un 27% en San José y un 38.7% en Oakland.

En contraste, los mercados de Florida y Texas muestran tendencias diferentes, con West Palm Beach teniendo el 88.2% de las casas vendidas por debajo del precio de lista, seguido de Fort Lauderdale (85.7%) y Miami (83.7%).

레드핀 (NASDAQ: RDFN)은 주요 도시 지역에서 주택 구매자 경쟁의 중요한 변화를 보고합니다. 샌프란시스코는 57.2%의 주택이 목록 가격 이상으로 판매되고 있으며, 이는 작년 대비 7.5%포인트 증가한 수치로, 상위 50개 대도시 중 가장 높은 수치입니다. 내서우 카운티(+4.4 pts)와 산호세(+3.5 pts)에서도 주목할 만한 증가가 있었습니다.

전국적으로 2월에 20.5%의 주택이 목록 가격 이상으로 판매되었으며, 이는 작년의 22.8%에서 감소한 수치입니다. 베이 지역은 시장의 강한 회복력을 보여주며, 산호세가 67.1%의 주택이 요청 가격 이상으로 판매되고 있으며, 그 뒤를 이어 오클랜드(57.7%)와 샌프란시스코(57.2%)가 있습니다. 베이 지역의 재고는 개선되었으며, 샌프란시스코에서 5.8%, 산호세에서 27%, 오클랜드에서 38.7% 증가했습니다.

반면, 플로리다와 텍사스 시장은 서로 다른 경향을 보이며, 웨스트 팜 비치는 88.2%의 주택이 목록 가격 이하로 판매되고 있으며, 그 뒤를 이어 포트 로더데일(85.7%)과 마이애미(83.7%)가 있습니다.

Redfin (NASDAQ: RDFN) rapporte un changement significatif dans la concurrence entre les acheteurs de maisons, en particulier dans les grandes zones urbaines. San Francisco est en tête avec 57,2% des maisons vendues au-dessus du prix de liste, marquant une augmentation de 7,5 points de pourcentage par rapport à l'année précédente - le plus élevé parmi les 50 principales métropoles. D'autres augmentations notables ont été observées dans le comté de Nassau (+4,4 pts) et San José (+3,5 pts).

À l'échelle nationale, 20,5% des maisons ont été vendues au-dessus du prix de liste en février, en baisse par rapport à 22,8% l'année dernière. La région de la baie montre une forte résilience du marché, avec San José en tête à 67,1% des maisons vendues au-dessus du prix demandé, suivi d'Oakland (57,7%) et de San Francisco (57,2%). L'inventaire s'est amélioré dans la région de la baie, avec des annonces actives en hausse de 5,8% à San Francisco, de 27% à San José et de 38,7% à Oakland.

En revanche, les marchés de la Floride et du Texas montrent des tendances différentes, West Palm Beach ayant 88,2% des maisons vendues en dessous du prix de liste, suivi de Fort Lauderdale (85,7%) et de Miami (83,7%).

Redfin (NASDAQ: RDFN) berichtet über einen signifikanten Wandel im Wettbewerb unter Hauskäufern, insbesondere in großen städtischen Gebieten. San Francisco führt mit 57,2% der Häuser, die über dem Listenpreis verkauft werden, was einen Anstieg von 7,5 Prozentpunkten im Jahresvergleich markiert - der höchste unter den 50 größten Metropolen. Weitere bemerkenswerte Anstiege wurden im Nassau County (+4,4 Pkt) und in San Jose (+3,5 Pkt) verzeichnet.

Landesweit wurden im Februar 20,5% der Häuser über dem Listenpreis verkauft, ein Rückgang von 22,8% im letzten Jahr. Die Bay Area zeigt eine starke Marktresilienz, wobei San Jose mit 67,1% der Häuser, die über dem geforderten Preis verkauft werden, anführt, gefolgt von Oakland (57,7%) und San Francisco (57,2%). Der Bestand hat sich in der Bay Area verbessert, mit aktiven Angeboten, die um 5,8% in San Francisco, 27% in San Jose und 38,7% in Oakland gestiegen sind.

Im Gegensatz dazu zeigen die Märkte in Florida und Texas unterschiedliche Trends, wobei West Palm Beach 88,2% der Häuser unter dem Listenpreis verkauft, gefolgt von Fort Lauderdale (85,7%) und Miami (83,7%).

Positive
  • Strong buyer competition in Bay Area with San Jose leading at 67.1% above-list sales
  • San Francisco shows 7.5 percentage point increase in above-list sales
  • Inventory improvement in Bay Area markets
  • Eight major metros showed increased above-list price sales
Negative
  • Nationwide above-list sales declined to 20.5% from 22.8% year-over-year
  • Market momentum lost in March due to buyers waiting for more inventory
  • Current market performance lower than pre-pandemic levels in desirable neighborhoods
  • 64.2% of homes sold below list price nationally, up from 60.9% last year

Redfin reports 57% of homes in San Francisco sold above their list price in February, up from 50% a year earlier—the biggest jump among the top 50 metros.

SEATTLE--(BUSINESS WIRE)-- (NASDAQ: RDFN) — Eight of the 50 most populous U.S. metropolitan areas saw an increase in the share of homes selling for above their original list price in February, and half of those metros are in the Bay Area or New York. That’s according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage.

In San Francisco, 57.2% of homes that sold went for more than their original list price, up 7.5 percentage points from a year earlier. That’s the biggest jump among the top 50 metros. Next came Nassau County, NY (+4.4 ppts), San Jose, CA (+3.5 ppts), Milwaukee (+2.7 ppts), San Antonio (+2.4 ppts), New York (+2.2 ppts), Portland, OR (+1.4 ppts) and Philadelphia (+0.8 ppts).

Homebuyer demand in the Bay Area and New York slowed considerably during the pandemic as people fled major urban areas, but has been bouncing back in recent years.

“The Bay Area has an unending population of people with enormous swaths of money,” said Josh Felder, a Redfin Premier real estate agent in the Bay Area. “A decade or so ago, we all thought the growth in home prices was unsustainable, but they just keep going up and up. That’s partly because there aren't enough homes for sale, and partly because tech continues to boom despite ups and downs in the stock market and geopolitical uncertainty.”

Felder said the housing market heated up in February due to pent-up demand, but has lost some momentum in March as buyers hold out for more inventory. The market still feels less active than it did before the pandemic, he added.

“I submitted an offer on a house in a really desirable San Jose neighborhood recently and there were 22 offers. It ended up going for around 10% over the asking price, which is commonplace,” Felder said. “But back in 2017 or 2018, it was common for homes in desirable neighborhoods to sell for 15% or more over asking, indicating that today’s market is actually somewhat restrained.”

It’s worth noting that inventory has started to improve in the Bay Area; active listings of homes for sale in San Francisco rose 5.8% year over year in February, and climbed a respective 27% and 38.7% in San Jose and Oakland.

Nationwide, 1 in 5 Homes Sell for More Than Their Original List Price

Nationwide, 20.5% of homes sold for above their original list price in February, down from 22.8% a year earlier. Nearly two-thirds (64.2%) sold for less than their original list price, compared with 60.9% a year earlier. And 15.4% sold for exactly their original list price, compared with 16.3% a year earlier and the lowest February share since 2019.

Many home sellers shoot for the moon when pricing their homes and end up getting less money than they hoped for. That’s increasingly the case today because 2025 is shaping up to be a buyer’s market due to elevated mortgage rates and rising inventory. There was a brief period during the pandemic homebuying frenzy when the share of homes selling above list price skyrocketed and was comparable with the share of homes selling below list price: around 40%. But these figures have now reverted to pre-pandemic norms. Redfin agents in most areas recommend that sellers today price their homes fairly if they want to find a buyer quickly.

Southern California Saw the Biggest Jump in Homes Selling Below List Price

In San Diego, 51.2% of homes that sold in February went for less than the seller originally asked for, up 8.9 percentage points year over year—the largest increase among the top 50 metros. Next came Anaheim, CA (+8.7 ppts), Charlotte, NC (+7.3 ppts), Atlanta (+7.3 ppts) and Sacramento, CA (+6.8 ppts).

An increase in inventory may be partially responsible for the uptick; on average, active listings of homes for sale rose 23.9% year over year across those five metros. That’s nearly triple the 8.4% average gain across the five metros with the biggest increases in homes selling above asking price. Homebuyers are more likely to try to negotiate a lower price when they have more options to choose from.

“When sellers have a polished home that’s priced appropriately, it will sell really, really quickly,” said Charles Wheeler, a Redfin Premier real estate agent in San Diego. “It's the sellers that really want to push the value that get into trouble. Even overpricing by $20,000 can scare buyers off and cause a home to sit on the market.”

Sellers in the Bay Area Are Most Likely to Fetch Above Their Asking Price

In San Jose, roughly two-thirds (67.1%) of homes that sold in February went for more than their original asking price—the highest share among the metros Redfin analyzed. It’s followed by Oakland (57.7%), San Francisco (57.2%) and Newark, NJ (53.5%). Those are the only major metros where a majority of home sellers fetch more than their original asking price. Nassau County rounds out the top five, at 47.1%.

The Bay Area almost always has the highest share of homes selling above list price because many buyers there underprice homes to fuel bidding wars. That’s why this analysis leads with year-over-year changes—to demonstrate that the Bay Area not only has the highest share of homes selling above asking price, but is also seeing this trend increase faster than anywhere else.

Sellers in Florida and Texas Are Most Likely to Fetch Below Their Asking Price

In West Palm Beach, FL, 88.2% of homes sold below their original list price in February—the highest share among the metros Redfin analyzed. Next come two other Florida metros: Fort Lauderdale (85.7%) and Miami (83.7%). Rounding out the top five are two Texas metros: San Antonio (81.2%) and Austin (80.2%).

Florida and Texas likely top the list in part because the supply of homes for sale isn’t as constrained as it is in other metros. They have been building more housing than other states, and stale inventory has been piling up, giving buyers bargaining power. Florida has also been grappling with intensifying natural disasters, skyrocketing HOA fees and surging insurance costs, giving some buyers pause.

Home Sellers in Seattle Are Most Likely to Fetch Their Exact Asking Price

In Seattle, 26.7% of homes that sold in February went for exactly their original listing price—the highest share among the metros Redfin analyzed. Next came Virginia Beach, VA (25.7%), Nashville (24%), Washington, D.C. (19.5%) and Columbus, OH (18.4%).

To view the full report, including a chart, methodology and metro-level data, please visit: https://www.redfin.com/news/homes-sold-above-list-price-2025

About Redfin

Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, and title insurance services. We run the country's #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1.8 billion in commissions. We serve approximately 100 markets across the U.S. and Canada and employ over 4,000 people.

Redfin's subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@redfin.com. To view Redfin's press center, click here.

Contact Redfin

Redfin Journalist Services:

Ally Forsell, 206-588-6863

press@redfin.com

Source: Redfin

FAQ

What percentage of homes in San Francisco sold above list price in February 2024?

57.2% of homes in San Francisco sold above their original list price, a 7.5 percentage point increase from the previous year.

How has RDFN's nationwide above-list-price sales performance changed?

Nationwide, 20.5% of homes sold above list price in February, down from 22.8% a year earlier.

Which cities showed the strongest above-list-price sales for RDFN?

San Jose led with 67.1%, followed by Oakland (57.7%), San Francisco (57.2%), and Newark (53.5%).

How has housing inventory changed in the Bay Area according to RDFN?

Active listings rose 5.8% in San Francisco, 27% in San Jose, and 38.7% in Oakland year-over-year.

Which markets are seeing the highest percentage of below-list-price sales?

West Palm Beach (88.2%), Fort Lauderdale (85.7%), and Miami (83.7%) had the highest shares of homes selling below list price.
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