California is the state with the most homes fetching multiple offers and selling above list price, according to a new report released by ZipRealty.
The report revealed that California had 91 out of the country’s 100 “hottest” zip codes, defined as those where homes were selling on average for most above list price, in the second quarter of 2010. The report compared home sale prices to original list prices based on MLS data within 5,400 cities across 33 markets the national brokerage serves.
Berkeley, California’s 94703 is the country’s “hottest” zip code, with homes selling on average for almost 8% above the asking price, or an additional $45,000 over list, on average.
Zip codes in California, and specifically the Bay Area, remain the “hottest” for buyer demand, including zip codes in Berkeley, Oakland and San Jose.