Report: Many of Bay Area's pricey homes selling fast

Many of the country’s most expensive zip codes are in California (74 out of 100) and they are selling fast, according to a new study from Point2.

California entries dominated the list of most high-end zip codes. San Jose’s 95130 and 95129 saw homes flying off the market in eight to nine days, regardless of the impressive median sale price, which hovers around $2 million. Also lasting nine days on the market were properties in Los Altos’ 94022 (median of almost $4 million); Cupertino’s 95014 and Sunnyvale’s 94087.

California housing market is one of the most competitive nationwide, despite homes in some of its most wealthy zip codes selling much slower (the time a property in Stinson Beach’s idyllic 94970 spent on the market was 94 days).

Among Bay Area factoids noted in the report:

• Santa Clara County claims 6 high-end zip codes where homes sold in 10 days or less (including 95130 and 95129 in San Jose; 94022 in Los Altos; and 95014 in Cupertino).
• In 29 of Bay Area’s top luxury zip codes, properties flew off the market in less than a month, according to the most recent data from September.
• In 16 of the Bay Area's highest-priced zip codes, more than 50% of the properties sold above their initial asking prices. Most homes sold in San Jose's 95130 (96%) and 95129 (85%) went over their initial asking amount.

The full report can be found here.