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Competition among prospective Greater Boston homeowners stayed strong in November according to a new report from the brokerage Redfin.

Unlike many parts of the nation, the rate at which buyers of single-family and condominium homes met competing offers stayed steady between October and November. According to Redfin, 64.3 percent of offers its Boston-area agents wrote last month saw at least one competing offer, compared to 64.3 percent in October and 49.9 percent in November 2020.

The Redfin report shows Boston is seeing slightly stronger buyer demand compared to the nation as a whole, where 59.5 percent of offers written by Redfin agents saw at least one competing offer last month. That’s down from 61.8 percent in October and the first time the figure has dropped below 60 percent since December 2020.

“It’s typical for competition to ease in the winter months as more families take time off for the holidays,” Redfin Chief Economist Daryl Fairweather said in a statement. “While competition waned in November, it was still higher than a year earlier, which is a sign that demand will be strong in the new year.”

In a statement released last week along with the Greater Boston Association of Realtors’ monthly market statistics report, association president Dino Confalone said the market had a strong November.

“The influx of new inventory that hit the market in September brought many buyers back into the market,” said Confalone, an agent with Gibson Sotheby’s International Realty in Cambridge. “There’s also more of a desire to buy before mortgage rates climb, and with less competition in the fall market, buyers are eager to take advantage of price adjustments and their improved bargaining position to negotiate better deals,”

Homebuyer Competition Held Steady in November

by James Sanna time to read: 1 min
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