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While homebuyer competition is increasing across the United States, the share of homes in Boston selling for above asking price dropped year-over-year.

According to a new report from Redfin, 43.1 percent of homes sold for above asking price in Boston in February, a 1.8 percent drop year-over-year. The largest share of home sales in Greater Boston sold below the original asking price (48.6 percent).

But as Banker & Tradesman reported Sunday, February also featured one of the colder months in recent memory and the worst flu season in 10 years, potentially damping down on buyer activity.

Another indicator of buyer interest – price cuts on active listings – is tracking well above the last three years, however. Data from Redfin shows 4.2 percent of active Greater Boston listings have taken dropped their price in the four weeks between Feb. 24 and March 23, the most recent data available. That compares to 3.4 percent for the same period in 2024, 3 percent in 2023 and 2.2 percent in 2021.

Elsewhere in the nation, major locals such as San Francisco and New York saw the largest increases in homes selling above asking price. In San Francisco, 57.2 percent of homes that sold went for above their original list price, up 7.5 percent year-over-year. In Nassau County, the share of homes sold above asking price increased 4.4 percent year-over-year to 47.1 percent.

Nationwide, 64.2 percent of homes sold for less than their original list price, compared with 60.9 percent a year earlier. The increase in homes selling below their asking price illustrates the importance of properly pricing a home when it goes on the market.