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

Expensive home
Max Rahubovskiy via Pexels

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 Altos94022 (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.



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