Where do homes sell the fastest? Yep, it’s the Bay Area.

This article comes from On The Block at SFGate.com

Despite the housing slump, the Bay Area is doing relatively well compared to other housing markets across the country.

As we have written in previous posts, homes that are well maintained and presented in prime locations have been snatched up fairly quickly all across the bay.  And according to this Yahoo Real Estate article, homes in the Bay Area are the fastest selling in the nation.  This is based on data from real estate site Zillow, that analyzed real estate listings and statistics during mid April – mid July of this year.  Across the country, the median number of days for a home to be on the market was 117.  The median number of days for San Francisco, which was the fastest selling area in the country, was almost half of that, at 59.  Following closely behind was San Jose, which tied for the #2 spot with Seattle and Oakland, which took the #5 spot.

Despite it being buyer’s market, the data from Zillow points to little wiggle room in negotiating.  The average discount negotiated on the sale from the original listing price was only 1%.  This points out again, that well positioned and priced homes will move quickly and those that are not, can languish.  Approximately a quarter of the homes in the Bay Area listed during this timeframe had a price cut.

Sellers, buyers, agents, brokers, readers – is this indicative of your recent experience?   Will the Bay Area climb out of the slump sooner than the rest of the country?


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