Boston Area Homes Selling Faster Than One Year Ago

Boston area homes are selling more quickly than they were a year ago. That, according to a recent report from Zillow.Boston area homes selling faster than last year

The article in Propertywire shows the median time Boston area homes spent on the market in September was just eighty six days, a reduction of thirty days compared to the September of the previous year when homes took 116 days to sell.

All thirty of the large metro areas covered in the Zillow report saw a faster rate of home sales than in the previous September, not just Boston area homes.

Data from Zillow takes into account that homes can be listed, removed from the listings and re-posted with new prices, and considers multiple listings that have occurred within 40 days for the same address as being just one listing. Their data shows that since the beginning of 2010, homes throughout the US have spent an average of 119 days being listed through Zillow before they are either removed from the market or sold.

Don’t Get Caught in a Bidding War for Boston Area Homes

In a separate report from the National Association of Realtors, more people are searching online for their new home. More than half of buyers start looking for a new property online, and just under half actually find the property they’ll eventually purchase in this way. During the search for a new home, some 92% will have looked online at some point in the process.

Even though Boston area homes are moving more quickly, experts caution against entering into bidding wars or paying over the odds for property. They point out that buyers need to be prepared to move quickly through having pre-approved mortgages, but expect this need to gradually reduce as inventory levels increase and more new construction takes place.

Now more than ever, you need to have an exclusive buyer’s broker on your side when looking for Boston area homes.

Also of Interest  Existing Boston Area Home Sales Increased in December

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