Boston Bidding Wars
Boston Condos for Sale
Boston Bidding Wars
If you’re still worried about having to deal with a bidding war when you buy a South Boston condo for sale, you may be able to let some of that fear go.
While multiple-offer situations haven’t disappeared entirely, they’re not nearly as common as they used to be. In fact, a recent survey shows agents reported only 1 in 5 homes (20%) nationally received multiple offers in June 2025.
That’s down from nearly 1 in 3 (31%) just a year ago – and dramatically lower than in June 2023 (39%) (see graph below):
This trend means you should face less competition when you buy a Boston condo for sale. That gives you more time to make decisions and the ability to negotiate price or terms.
It Still Depends on Where You’re Buying
Of course, national trends don’t tell the full story. Local dynamics matter, a lot. This second graph uses survey data from John Burns Research & Consulting (JBREC) and Keeping Current Matters (KCM) to break things down by region to prove just how true that is. It shows, while the share of homes getting multiple offers has dropped pretty much everywhere, some areas are still seeing more offers than others:
In the Boston Suburbs, 34% of homes (roughly 1 in 3) are still receiving multiple offers. That’s more than the national average. But in Southeast, that number drops to just 6%.
What’s behind the difference? In general, the areas still seeing bidding wars tend to have lower-than-normal inventory. That imbalance between buyers and available homes keeps pressure on prices and competition. But markets with more listings are seeing conditions cool – and that means fewer bidding wars.
Sellers Are More Flexible Than You Might Think
Here’s another shift to show you just how much things have changed. According to a Redfin report, almost half of sellers are offering concessions, like covering their buyer’s closing costs or dropping their asking price to get their house sold.
That’s a clear sign this isn’t the same ultra-competitive market we saw a few years ago. Back then, sellers rarely compromised. And buyers often waived their inspection or appraisal to try to make their offer stand out. Now, things are different.
But again, how often this is happening is going to vary based on where you’re looking to buy. And that’s why you need a local agent’s expertise.
Boston Condos and the Bottom Line
If concerns about bidding wars have been holding you back, it may be time to take another look. Nationally, competition is down. In some markets, it’s down significantly. And with more sellers offering concessions, buyers today have more power and flexibility than they’ve had in a long time.
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Boston Bidding Wars
As we enter the Fall Boston condo selling season and as mortgage rates surge, August’s bidding-war rate fell to its lowest level since April 2020, according to a new Redfin report.
What’s going on with home buying competition?
In August, 44.6% of offers written by Redfin agents faced competition, the lowest since the start of the pandemic and down 63.5% from last year. August was the seventh straight month of declines, as mortgage rates topped 6%, pushing some buyers out of the market.
To compare, the report found a typical bidding war in August had 3.2 offers compared to 3.5 offers in July and 5 offers in 2021.
Is there Boston condo bidding wars?
In Boston, 54% of Redfin offers faced competition in August, down from 55.2% in July and 68.7% a year prior. And in Worcester, 51.2% of offers faced competition last month, down from July’s 54.3% and last year’s 65.3%.
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Bidding wars eased in September dropping to a 2021 low
There’s good news for prospective homebuyers — for the first time during this year’s most competitive real estate market in history, the bidding-war rate has fallen to a 2021 low.
According to a recent Redfin report, 58.9% of September home offers faced competition, the lowest level in nine months, coming on the heels of the market showing signs of a seasonal slowdown and as mortgage rates began to rise. September was the fifth consecutive month of declines. In August 60.8% faced a bidding war, down from April’s 74.3% peak.
Boston Condo Bidding War
Raleigh had the highest bidding war rate at 73.9%. Boston came in at No. 2 where the share of Redfin offers facing bidding wars last month was 71.7% compared to 67.2% in August and 57.2% in September 2020. That was followed by Indianapolis at 71.4%, Sacramento at 70.5% and San Diego at 70.3%.
In a year where local agents pulled out all the stops to help their clients win bidding wars, housing competition has started to ease, yet homes are still selling faster than usual for this time of year.
“It’s typical to see a decline in competition as families head back to school and the weather cools down,” Taylor Marr, Redfin deputy chief economist Taylor Marr said in a press release. “Buyers also aren’t having to offer as much above the asking price as they were in the spring when competition in the housing market was peaking. As mortgage rates continue to rise, we can expect bidding wars to keep slowing.”
Boston Real Estate and the Bottom Line
Housing inventory continued to remain low last month, the report found, as new listings fell 9% from 2020 and homes sold in 18 days, more than a week faster than they did a year prior.
Boston Condos for Sale
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Boston Condos for Sale
Boston Bidding Wars
Homebuyers can finally breathe a little easier.
Following months of sky-high prices paired with manic competition — driven by limited supply — the frenetic housing market is starting to cool down. Somewhat.
Last month, multiple bids accompanied 60% of offers written by Redfin agents. This is a 7% drop from June and a nearly 15% decline from the pandemic’s peak of 74%, in April 2021, according to Redfin.com.
“Competition has started to slow in the last three weeks. We’re now seeing five to eight offers on homes instead of 25, and they’re coming in $5,000 to $10,000 above the listing price instead of $50,000 to $60,000,” Scott Mercer, a Redfin real estate agent in Sacramento, CA, said in a press release. “Buyers are pushing back.”
In Boston, 64% of Redfin offerings faced bidding wars in July, a significant decline of 9% from June — but still slightly higher than one year ago.
Bidding Wars on Redfin Homes Across the Nation
via Redfin.com
Boston Condos for Sale
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Boston Real Estate for Sale
I have noticed a bidding war trend within the local housing market. Not for every home. Just for those units that are new or recently renovated.
Most realtors see other agents being vague and non-committal on how to handle multiple offers, so they think that’s how to do it.
But hiding out and refusing to have a game plan helps no one – especially the seller – yet it never occurs to agents to do it differently. Sales is a skill, and transparency is the key:
Contact me to find to set up an appointment to start your Boston condo-buying process.
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