Thirty-two percent of offers written by Redfin faced one or more competing bids in November, down from 45 percent a year earlier, according to a new report by Redfin.
The report said the percentage of competing offers during November was the lowest since Redfin began tracking that data in 2011.
Even so, Redfin said there were still plenty of markets in November in which offers faced competitive bids. The most competitive ZIP codes were 94602 in Oakland, Calif.; 20009 in Washington, D.C.; and 92870 in Orange County, Calif., all with 85 percent or more of Redfin offers facing competition.
“There aren't many homes for sale in and around the city of Boston right now,” said Luke Welling, a Redfin agent. “Bidding wars are still the norm in Arlington Heights, Malden, and the Somerville and Cambridge areas.
“Proximity to Boston and the local universities, coupled with highly rated schools in the surrounding towns, make these neighborhoods sought-after destinations for many homebuyers,” Welling added. “Buyers still need to make offers well over asking price to win a home.”