San Diego homebuyers paid a median $10,100 above the asking price in 2017.
  • San Diego homebuyers paid a median $10,100 above the asking price in 2017.
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Almost one-fourth (24.1 percent) of U.S. homes sold above the listing price last year, according to Zillow.com. The median price paid over list was $7000.

In San Diego, 32.1 percent sold above the listing price, for a median $10,100 above the asking level. But San Diego badly lagged many West Coast cities: in San Francisco, 64.5 percent of homes sold above the listing price, for a median of $41,000 above asking. In San Jose, 68.5 percent of homes sold above the asking price — a median $62,000 above list. More than half of Seattle homes went for a median bonus of $20,100 to the seller.

This is getting into bubble range. Will the wildfires bring these transactions back to Earth on the West Coast?

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Comments

Don Bauder Jan. 13, 2018 @ 7:11 p.m.

Mike Murphy: If there is a shortage, these prices will go even higher. Best, Don Bauder

1

AlexClarke Jan. 14, 2018 @ 7:27 a.m.

Just curious but with the high housing prices and high rents where do those who work in the hotel/restaurant/retail/service industries live?

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Don Bauder Jan. 14, 2018 @ 1:21 p.m.

AlexClarke: In San Diego, a large number commute from Mexico. Some live in Riverside County, which has cheaper homes. Some live in their cars. Many families double-up and triple-up -- multiple families living together. Best, Don Bauder

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AlexClarke Jan. 14, 2018 @ 7:53 a.m.

Just curious but with the high housing prices and high rents where do those who work in the hotel/restaurant/retail/service industry live? On the street? Father Joe's? Or do they pool their $11 an hour and live with 4 or 5 others in a slumlord's overpriced ghetto apartment? How many of them collect welfare benefits?

1

Don Bauder Jan. 14, 2018 @ 1:23 p.m.

AlexClarke: Companies like Wal-Mart instruct their underpaid employees on how to maximize welfare payments from the government. Yes, the slumlords make fat profits. Best, Don Bauder

1

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