This MA City Is Among The Most Competitive Home Markets In America

BOSTON, MA — In what will come as no surprise to prospective homebuyers in the Boston metro area, a recent study found that the city is among the most competitive housing markets in the nation.

Zillow recently published a study sharing the most and least competitive markets in the United States. For those looking to buy in the northeast, feel free to skip over the "least competitive" section for information related to your market.

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The study found that Boston has 10.3 engaged home shoppers for every home listing, and it only takes one week on average for a listing to go from on-the-market to pending. Of those homes, 53 percent sold for above asking price, analysts found.

Zillow economists gauge competition in markets by looking at engaged shoppers, or people who have saved or shared a for-sale listing on Zillow.

Nationally, the typical home gets 5.5 engaged shoppers for each for-sale listing, and takes just 17 days from when it’s listed to attract an offer.

Despite that steep competition level, Boston only ranked fourth on the list of most competitive, behind two other cities in New England.

Hartford ranked second in the most competitive category while Providence ranked third in the same category. Buffalo was the most competitive market, analysts found.

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• MA Is Unfriendly To First-Time Homebuyers, New Study Finds