The pace of home sales has quickened this spring as almost half of all April sellers nationwide accepted an offer in less than a week, and more than three-quarters saw pending home sales in less than a month.
New research from Zillow found 49.2% of Boston homes sold within a week in April, and 84.9% sold within a month of being listed. Just 9.3% of homes were on the market for two months or more.
It’s not just the highly sought-after entry-level home enjoying the brisk sales pace. Zillow found that 50.5% of the least-expensive homes on the market went under contract in less than a week, up from 34.1% a year ago, while 54.6% of homes in the middle-price tier and 48% of homes in the top-price tier did the same.
In Boston, 52.1% of the least-expensive homes sold within a week, compared to 53.3% of homes in the middle tier and 50.9% of the most-expensive tier.
Experts surveyed by Zillow said they expect inventory growth later this year or in the first half of 2022, which would alleviate some of the competition currently driving the sales pace.