manch
January 8, 2020, 9:46pm
1
Just 9% of offers written by Redfin agents on behalf of their homebuying customers faced a bidding war in December, down from 12% a year earlier.
Est. reading time: 2 minutes
San Francisco continued to be the only market that was even moderately competitive in December.
The bidding war rate fell to zero in Raleigh and Dallas .
I thought everybody was moving away from SF to these hot towns in Texas? What happened?
Metro Area
Share of Redfin Offers that Faced Competition December 2019
Share of Redfin Offers that Faced Competition December 2018
Share of Redfin Offers that Faced Competition November 2019
San Francisco, CA
25.8%
35.3%
28.2%
San Diego, CA
16.8%
15.7%
16.7%
San Jose, CA
16.7%
21.4%
10.3%
Phoenix, AZ
14.8%
11.3%
11.3%
Boston, MA
13.0%
18.3%
13.5%
Philadelphia, PA
12.5%
19.0%
10.2%
Los Angeles, CA
11.4%
13.9%
11.8%
Washington, D.C.
9.3%
6.9%
9.6%
Denver, CO
8.5%
16.8%
13.8%
Portland, OR
8.5%
8.1%
6.3%
New York, NY
8.3%
21.7%
13.1%
Seattle, WA
8.3%
13.8%
10.0%
Sacramento, CA
7.0%
3.6%
4.9%
Chicago, IL
6.8%
11.5%
5.1%
Austin, TX
6.3%
4.6%
6.9%
Las Vegas, NV
6.1%
16.7%
5.3%
Houston, TX
4.8%
10.3%
1.3%
Miami, FL
4.7%
8.8%
1.7%
Atlanta, GA
4.0%
5.9%
10.5%
Raleigh, NC
0.0%
0.0%
2.3%
Dallas, TX
0.0%
9.8%
6.6%
National
9.4%
12.2%
10.1%
Seems even Sacramento is more popular than Austin?
hanera
January 8, 2020, 10:35pm
2
Please write down somewhere that I have told you at least a dozen times that there is hardly any bidding wars in Austin. My purchases so far, at most I face one more bidder. The game in Austin is the seller will put the price at 10-15% above market price and gradually reduce till one buyer put up an offer. So multi-bids are rare.
Elt1
January 9, 2020, 12:38am
3
Because Sacramento is a more desirable place to live.
1 Like
manch
January 9, 2020, 5:30am
4
Sacramento demographics:
Population: 508,529
White: 47.24%
Asian: 18.90%
Black or African American: 13.43%
Other race: 10.95%
Two or more races: 7.01%
Native Hawaiian or Pacific Islander: 1.72%
Native American: 0.75%
Austin demographics:
Population: 964,254
White: 73.49%
Black or African American: 7.84%
Other race: 7.47%
Asian: 7.33%
Two or more races: 3.25%
Native American: 0.57%
Native Hawaiian or Pacific Islander: 0.05%
I bet the Chinese food in Sac will beat Austin’s hands down.
Elt1
January 9, 2020, 3:32pm
5
Sacramento MSA is 2.5 million similar to Austin. My favorite supermarket in Sacramento is KP international. A Korean owned market with very cheap prices and all kinds in international food. Live fish market, amazing varieties of vegetables and real butchers. Sacramento also has Tahoe, Napa and the Bay Area 90 minutes away. Austin has hot humid summers and cold winters.
hanera
January 9, 2020, 5:50pm
6
@manch and @elt1 couldn’t enjoy the sweet grapes
manch
January 9, 2020, 9:23pm
7
Random SF food for a Thursday afternoon:
