A new report from Zillow shows that three-quarters of all homes in Greater Boston sell in two weeks or less, with a substantial number going pending even faster.
The online listings platform tallied up the time all single-family homes and condominiums in the area spent on the market in April and found 49 percent sell in seven days or less. That number increased slightly once the company’s researchers broke the market into thirds based on price, with 52 percent of homes in the bottom third of the market selling in less than a week, 53 percent of homes in the middle third doing so and 51 percent of homes in the top third doing so.
Another 27 percent of the entire housing market’s inventory sold in one to two weeks, Zillow found, with a final 9 percent selling in two to four weeks.
These figures put Boston about in line with the national average, Zillow found.
According to the Greater Boston Real Estate Board, which covers a more focused area than Zillow designates as “Greater Boston,” single-family homes spent an average of 19 days on the market in April, and condominiums spent an average of 32 days.
The pressure on buyers this kind of market creates is intense, as Redfin CEO Glenn Kelman illustrated in a Twitter threat Tuesday, ticking off 15 different data points and anecdotes describing the situation, including the story of one homebuyer working with a Redfin agent who included a pledge to name her first-born child after the seller in her written offer. That woman’s offer, Kelman said, lost out.
Among the more technical data points he listed: Inventory has increased in New York City by 28 percent and in San Francisco by 77 percent but both markets are still seeing prices rise.
Massachusetts’ principal housing markets saw inventory increase in April on a month-over-month basis, but seemingly not enough to dampen the demand for new homes.




