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Price cuts are becoming more common across the nation and Boston is no different, according to a new report from Realtor.com

The number of price reductions increased by 4 percent on a year-over-year basis, according to data from Realtor.com.

The increase in price reductions comes as sellers across the nation grapple with new dynamics. Homes that close four weeks after being listed sell for 1.8 percentage points above the monthly average for comparable homes. Massachusetts currently has an average day on market of 38 days in May, which is an increase from 35 days in 2025, according to the Massachusetts Association of Realtors latest data.

“The pandemic gave sellers a free pass on pricing and that pass has expired,” Realtor.com Senior Economist Joel Berner said in a statement. “Today, an overpriced home doesn’t just sit – it gets stale, loses leverage and sells for less than it would have if it had been priced right from the start. Price it right and buyers come to you. Price it wrong and you’re chasing them. Four weeks in, the market has already delivered its verdict – you’ve either got competing offers or you’re about to cut your price.”

While price cuts are more common in Boston, the Northeast as a region is the only part of the country where the average listing sells above asking price. According to Realtor.com data, the average listing price in Boston is $849,000.

A recent Redfin study found that Boston is one of only eight “balanced” markets nationwide.