If you’re looking to buy a house in San Jose, be aware that there’s probably going to be two prices: The asking price and the higher price you’ll eventually pay.

According to Redfin’s home price report for February, 63.1 percent of homes sold in the Bay Area city did so over asking price. That’s more than in San Francisco (62 percent) and Oakland (59.1 percent), though that trio of cities made up the top three nationally. 

February's median sale price for a San Jose home came in at $881,000, which is up seven percent from the previous month. Listed homes also spend just 21 days on the market on average, which is less than San Francisco (28), though still not as fast-moving as Oakland (15).

Making things tougher for buyers is that the number of homes available for sale is down two percent from February 2016. The number of homes actually sold was up 4.5 percent over that same time, reinforcing the notion that any house that hits the market doesn’t stay very long.

All of this simply confirms what homebuyers have known for a long time now: It’s extremely hard to find a house in the region for the price you want. Perhaps that’s why at least one company is actually incentivizing their employees to live elsewhere.