Seattle, Washington as well as San Jose, and Fremont, California are the Most Competitive Cities in the US, with a Compete Score of 100.
Redfin, the next-generation real estate brokerage, recently announced Redfin Compete Score, a rating of housing competition in cities and neighborhoods on a scale of 0 to 100, where 100 is the most competitive. Compete Score can be found on Redfin.com pages for individual listings as well as on the Home Values page for any city or neighborhood where more than 25 homes were sold in the last year. Redfin is also introducing the first Compete Score Report to calculate the most and least competitive cities and neighborhoods across the country.
|Score Range||Range Name||Description|
|90-100||Most Competitive||Most homes get multiple offers, often with waived contingencies|
|70-89||Very Competitive||Many homes get multiple offers, some with waived contingencies|
|30-69||Somewhat Competitive||Some homes get multiple offers, but typically take weeks to sell|
|0-29||Not Very Competitive||Multiple offers are rare and homes can take months to sell|
"Using data and insights that only Redfin has, Compete Score helps home buyers navigate the competition and sellers understand what to expect when listing a home," said Matt Lerner, Senior Vice President, Product & Design at Redfin. "Compete Score helps sellers understand how long a home could take to sell, whether it's likely to sell for more or less than the asking price and how to list the home at a price that is likely to attract multiple offers. For buyers, Compete Score helps them understand how aggressive they need to be to win the home they want, including how much to bid, whether they need to waive contingencies and how fast they need to act."
"Compete Score is an example of how Redfin captures more data than any other brokerage or website. We do this because every customer asks for service via our online tools, and every agent uses those tools to deliver better service, in preparing offers, activating listings, scheduling tours and negotiating sales," said Glenn Kelman, CEO of Redfin. "No human being could make sense of so much data, but Redfin's software processes this information to recognize subtle shifts in the market from month to month and neighborhood to neighborhood. As a result, our customers will know when a neighborhood is getting hot, or when the whole market is about to turn, before anyone else."
The first Compete Score report shows that among the US cities with populations of at least 200,000, the most competitive are Fremont and San Jose, California, and Seattle, while New Orleans, LA, and El Paso, Texas are the least competitive cities in contrast. Though, desirable neighborhoods may be less competitive than expected because of price range and fewer offers.
Most Competitive Cities in the U.S.
|Rank||City||Redfin Compete Score|
|1||San Jose, CA||100|
|3||San Francisco, CA||96|
|Rank||City||Redfin Compete Score|
|1||New Orleans, LA||43|
|2||El Paso, TX||44|
|7||Baton Rouge, LA||57|
In looking at Compete Score data for neighborhoods nationwide, more than 100 have a Compete Score of 97 or higher and six have a score of 100, the highest score possible. The vast majority are in the Seattle and San Francisco Bay Areas.
Most Competitive Neighborhoods in the U.S.
|Neighborhood||City||Redfin Compete Score|
|West Murphy||Sunnyvale, CA||100|
|Phinney Ridge||Seattle, WA||100|
|East Arlington||Arlington, MA||100|
|Northeast Spring Glen||Renton, WA||100|
|Licton Springs||Seattle, WA||100|
|North College Park||Seattle, WA||100|
Edited by V. Haviland
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