1 In 4 CA Homes For Sale In Major Cities Only Last A Week, New Data Shows

SAN FRANCISCO, CA — California's housing supply challenges continue to be a win for home sellers in major cities as a new analysis indicates about one in four homes stay on the market for only one week before landing a buyer.

The data shows a higher demand for housing in northern and southern coastal cities, including San Diego, San Francisco, and San Jose, while Los Angeles and Riverside homes lagged in in comparison.

The figures are based on an analysis of Zillow's data on U.S. home sales in February and March, which was released on Thursday.

San Jose was the most competitive city in California with about 22.4 percent of homes sold within seven days. About 84 percent of homes were sold within seven days above the listing price, and nearly 61 percent of all homes sold higher than the listing price.

In San Francisco, more than 79 percent of homes sold more than the asking price. About 55 percent of all homes sold above the listing price. The median age in San Francisco was 20 days.

San Diego was less active than the Bay Area with more than 19 percent of homes were sold within seven days. About 59 percent of homes sold for more than the asking price. The median age was 33 days.

In addition, about 31.5 percent of San Diego's homes sold for more than the asking prices.

Los Angeles saw less demand with 14.4 percent of homes sold within seven days. About 56 percent of homes in Los Angeles sold for more than the asking price. Just over 32 percent of homes in Los Angeles sold above the listing price.

About 24.6 percent of homes in Sacramento sold within seven days. About 62.5 percent of homes sold above the listing price. Nearly 30 percent of all homes in Sacramento sold above the listing price. The median age was 26 days.

In Riverside, demand has fallen with about 12.4 percent of homes sold in seven days. About 49 percent of homes sold for more than the asking price. More than 23 percent of homes in Riverside sold above than the asking price. The median age was 55 days.