SAN JOSE (KCBS) – San Jose is the nation’s most competitive residential real estate market according to the real estate firm Redfin, which analyzed the numbers from last month.
According to the data, 69.6 percent of homes in San Jose sold for more than the listing price. That was the highest share of “above asking” sales in the country.
Judged by the same standard, the No. 2 market in the nation was San Francisco, where 66.7 percent of homes sold for price above asking.
Redfin said No. 3 was Oakland, where 65.9 percent sold for more than the list price.
The numbers are all about supply and demand. Tight housing inventory is driving competition among buyers, which keeps pushing home prices up.