California homes remained hot among homebuyers in 2010’s second quarter, according to a report by online brokerage ZipRealty.
ZipRealty’s quarterly "Home Hunter Report" is based on multiple listing service data from 5,400 cities in 33 of the 35 major metropolitan areas where ZipRealty operates. The data covers the period between April 1 and June 30.
Of the report’s 100 "hottest" ZIP codes nationwide, 91 were in California. This means that, on average, homes in these ZIP codes sold for the most above listing price, while homes in the "coldest" ZIP codes sold for the most under listing price.
Of the top 10 hottest ZIPs, seven were in the Golden State, compared to eight in the second quarter of 2009. Of the coldest, seven were in another SunBelt state: Florida.
"The hot housing market in the second quarter in California may have resulted from increased demand from the government tax incentives without a lot of homes for sale, so many home sellers received multiple bids and sold their homes over the asking prices," said Leslie Tyler, vice president for ZipRealty, in a statement.
"Florida is showing some encouraging signs of improvement, as they work off the large numbers of distressed properties. Homes in Miami are even selling close to asking price, a significant change from what we’ve been seeing over the past year."
The country’s coldest markets have warmed slightly since the second quarter of 2009, the report said — homes in the 10 coldest ZIP codes sold for an average 18 percent below asking price compared to a -22 percent average in the second quarter of 2009.
Of the top 25 most-searched cities on ZipRealty’s website, the vast majority were in areas with a high number of distressed properties. Phoenix topped the list, with the Phoenix metro area accounting for seven of the top 10 most-searched cities. Ten cities in the Las Vegas metro area also made up a substantial chunk of the list.
The rest were Orlando, Fla. (No. 4); Atlanta (No. 11); Kissimmee, Fla. (No. 12); Dallas, Texas (No. 16); Peoria, Ill. (No. 19); Fort Lauderdale, Fla. (No. 21); Houston, Texas (No. 23); and Carlsbad, Calif. (No.24).
From ZipRealty:
The country’s 10 hottest ZIP codes – those with the highest sales-to-list-price ratios — include the following:
|
Neighborhood/City |
ZIP Code |
Percent of List Price |
Average List Price |
Average Sale Price |
|
Berkeley, Calif. |
94703 |
107.73% |
$575,095 |
$619,574 |
|
Chicago, Ill. – Loop |
60603 |
106.56 |
$702,565 |
$748,663 |
|
Oakland, Calif. |
94621 |
105.93 |
$106,893 |
$113,236 |
|
Oakland, Calif. |
94603 |
104.33 |
$133,213 |
$138,980 |
|
Forest Park, Ga. |
30297 |
104.03 |
$30,200 |
$31,417 |
|
San Jose, Calif. |
95122 |
103.86 |
$274,516 |
$284,395 |
|
Rodeo, Calif. |
94572 |
103.42 |
$221,775 |
$229,359 |
|
Las Vegas, Nev. |
89030 |
103.41 |
$51,112 |
$52,853 |
|
Adelanto |
92301 |
103.11 |
$86,659 |
$89,353 |
|
San Jose, Calif. |
95111 |
103.03 |
$291,090 |
$299,917 |
The country’s coldest ZIP codes — those with the lowest sales-to-list-price ratios — include the following:
|
Neighborhood/City |
ZIP Code |
Percentage of List Price |
Average List Price |
Average Sale Price |
|
|
Bokeelia, Fla. |
33922 |
84.18% |
$241,663 |
$203,427 |
|
|
Jupiter, Fla. |
33477 |
84.02% |
$648,097 |
$544,563 |
|
|
Minooka, Ill. |
60447 |
83.84% |
$225,860 |
$189,353 |
|
|
Osterville, Mass. |
02655 |
83.82% |
$1,114,802 |
$934,455 |
|
|
Boca Raton, Fla. |
33496 |
83.73% |
$626,124 |
$524,255 |
|
|
Highland Beach, Fla. |
33487 |
83.61% |
$964,762 |
$806,597 |
|
|
Delray Beach, Fla. |
33483 |
82.67% |
$953,971 |
$788,620 |
|
|
Palm Beach, Fla. |
33480 |
82.61% |
$1,336,673 |
$1,104,181 |
|
|
Alva, Fla. |
33920 |
75.95% |
$387,214 |
$294,087 |
|
|
Winchester, Conn. |
06098 |
71.61% |
$738,321 |
$528,683 |
|
