Nearly three in five homes (57.6 percent) in Newark sold above their original asking price in May, the highest share of the 50 most populous U.S. metros, according to a new report from Redfin.
The Bay Area followed closely, with 57.3 percent of homes in San Francisco and 53.2 percent in San Jose, Calif., selling above asking price. Nassau County, N.Y., rounded out the four metro areas where more than half of homes sold in May went for above asking price, at 51.6 percent. A third Bay Area metro, Oakland, Calif., ranked fifth, with 46 percent of homes selling above asking price.
In all, six of the 10 most competitive U.S. housing markets are in the Northeast, and three are in the Bay Area. Milwaukee, where 42.6 percent of homes sold above asking price, also ranked in the top 10.
Top 10 most competitive housing markets
Measured by share of homes sold above asking price, out of 50 most populous U.S. metro
