More than half of homes are selling above asking price in Newark, San Francisco, San Jose and Nassau County, making them some of the most competitive housing markets in the country. In the Bay Area, AI-driven hiring continues to fuel demand and bidding wars. Across the Northeast, tight inventory is keeping competition high. On the other end of the spectrum, many markets in Florida and Texas remain firmly in buyers' favor, with fewer than 10% of homes selling above asking price as inventory outpaces demand. 👉 Swipe to see where buyers are facing the most competition and where they have the strongest negotiating power and read the full report at the link in the comments.
Redfin Interesting you post this today. Also that Phoenix is on your top 10 list even considering the data here. You have 24 houses as options for my houses 5 required comps: Properties analyzed -24 Undervalued (suppressed) - 22 Avg suppression per comp -$43,913 Largest suppression - $117,957 Those numbers are purely the difference between what you sold the houses for mostly in the last month, and how much less you report those same houses, at the same time as having a HIGHER value on your actual platform than the selling price, everywhere except for in my private dashboard where my house is forced to use you suppressed value of the same houses as a comp. Your data, doesn't match your data, and it is doing $1 million worth of artificial market suppression in damage to my houses price. But that explanation is for anybody else who reads this because you very clearly already know what you are doing, or it wouldn't be an issue with 22 of the 24 available houses to use as a comp: (Some of these are the same model house in the same neighborhood as my house.)
Redfin Interesting to see this split. I work with Nigerian diaspora clients across the US and Canada, and this bidding-war fatigue in markets like SF and Newark is actually one of the reasons more of them are looking at land back home Lagos land in growth corridors is still priced well below replacement cost, without the competition seen here.
From where families actually sit, "competitive" turns out to be a band story as much as a city story. The over-ask pressure here is heaviest where the bench of buyers is deepest, not where the money is: San Bruno's typical Q2 2026 sale closed at 106.2% of its original ask in 12 days, off 40 closings (MLSListings), while the very top of the Peninsula routinely closes under ask. Same region, opposite experience — the family standing in a $1.4M doorway is outnumbered in a way the $8M buyer never is. Does the full report cut share-above-asking by price tier inside a metro? That's the slice my clients actually feel.
Fascinating data on spring market activity. Understanding local market velocity is key to navigating today's real estate environment. Outstanding analysis from Redfin
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Interesting data points, thanks for sharing!
Full Report: https://www.redfin.com/news/most-competitive-housing-markets-2026/