San Francisco is home to the three most competitive neighborhoods for homebuyers in the United States, according to new research from real estate website Redfin. The Sunset District is the most competitive neighborhood in the country, based on measures like average number of offers, the percentage of homes that sold above asking, and the percentage of offers that were all cash. The Sunset’s hot, hot status is thanks to its abundance of single-family homes, good schools, and relative affordability, with a median sale price still hovering under $1 million, at $955K (though we’d wager that a fair amount of the neighborhood’s 28.8 percent all-cash offers went to flippers). Sunset homes spent an average of 14 days on the market and received an average of 5.5 offers each. Nearly 88 percent of properties in the Sunset went for over asking in 2014, and 54.2 percent had multiple offers.
The Castro came in second for competitiveness, boasting an average of 3.3 offers on each home sold, 28.2 percent of which were all-cash offers.