SEATTLE--(BUSINESS WIRE)--
(NASDAQ: RDFN) — Seven of Redfin.com’s 10 most-viewed home listings in January were in the Bay Area, specifically the East Bay and neighborhoods near San Jose, and two were in Seattle’s eastside suburbs. That is according to a new from Redfin (), the technology-powered real estate brokerage.
One of the most-viewed homes was in the Los Angeles neighborhood of the Pacific Palisades, which attracted a lot of attention in January due to the devastating wildfires that swept through the area.
Nine of the 10 most-viewed listings are priced at more than $1 million, and five are priced at more than $2 million. That’s well over the median U.S. home-sale price of roughly .
Here are the 10 most-viewed listings on Redfin.com in January:
- : Listed for $1,497,000
- : Listed for $1,297,000
- : Listed for $544,841
- : Listed for $1,050,000
- : Listed for $24,500,000
- : Listed for $3,375,000
- : Listed for $2,395,000
- : Listed for $1,299,950
- : Listed for $4,800,000
- : Listed for $2,199,888
There are several possible reasons Silicon Valley and the Seattle area dominate the list of most popular listings. Redfin agents in the Bay Area and Seattle report that although inventory is improving, there’s still a scarcity of desirable homes that don’t require renovation. That results in more attention for the limited number of attractive listings—especially when they’re relatively affordable, which in those places might mean they’re listed for $1.5 million or so.
“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 , a agent in the Bay Area. “Even homes priced between $3 million and $5+ million are getting multiple offers if they’re updated and in a hot neighborhood. That’s because there are so few options and so many well-qualified buyers. It's business as usual on the San Francisco Bay Area Peninsula.”
Additionally, major tech employers are demanding workers return to the office, which could be bringing high homebuying demand to those areas. Amazon’s full-time return-to-office mandate took effect in January, with roughly 12,000 workers expected to return to the company’s Bellevue office alone. It’s a similar story in the Bay Area; two of the most-viewed listings are in Los Altos, near one of Tesla’s main offices, and one is in Palo Alto, near Meta’s headquarters.
Finally, it’s worth noting that those West Coast areas are both among the 15 most populous U.S. metro areas—meaning listings naturally attract a lot of eyes—and they’re both among the seven highest-income metro areas in the country.
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About Redfin
Redfin () is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, and title insurance services. We run the country's #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1.6 billion in commissions. We serve approximately 100 markets across the U.S. and Canada and employ over 4,000 people.
Redfin’s subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®.
For more information or to contact a local Redfin real estate agent, visit . To learn about housing market trends and download data, visit the . To be added to Redfin's press release distribution list, email . To view Redfin's press center, .
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