Pricey Tech Hubs Dominate Top 10 Most-Viewed Home Listings, Redfin Says

MT Newswires
02-12
homesales -Shutterstock
Technology hubs in the Bay Area of California and Seattle were among the most-viewed listings on Redfin (RDFN) in January even though they were selling well above the median US home-sale price, the real estate brokerage said Tuesday.

Seven of the top 10 most-viewed home listings last month were in the Bay Area, specifically the East Bay and neighborhoods near San Jose, while two were in Seattle's eastside suburbs, according to Redfin's report.

"Most of Redfin.com's most-viewed listings have two things in common: They're located in tech hubs, and they're expensive," it said.

An outlier was a Pacific Palisades home in the Los Angeles neighborhood that Redfin said drew attention following devastating wildfires.

Nine of the 10 most-viewed listings in January were priced above $1 million, while five were above $2 million. That compares with the median US home-sale price of roughly $430,000.

"Any move-in ready home located between San Francisco and San Jose that's priced between $1 million and $3 million and has at least three bedrooms and two bathrooms is flying off the shelves, especially if it's in a desirable school district," said Josh Felder, a Redfin Premier agent in the Bay Area. "There are so few options and so many well-qualified buyers."

Among the driving demand factors are scarcity for desirable homes that don't require renovation, though Redfin said inventory has been improving. At the same time, major tech employers are demanding workers return to the office, potentially fueling homebuying demand.

Amazon (AMZN) began requiring employees to return full-time to the office in January.













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