Home shopping season is here, and the experience can feel quite different for house hunters in Boston than those in Miami. While the housing market this spring is generally more balanced and buyer-friendly than in recent years, there are pockets where competition is intense and there are bidding wars for most homes.

Where are the most competitive markets?

There are about 5.5 engaged home shoppers — people who have saved or shared a for-sale listing on Zillow — for every home on the market nationwide. The ratio is greater than 10-1 in four Northeast markets: Buffalo, Hartford, Providence and Boston. In each of these metro areas, the typical home sells within 10 days and more than half of homes are selling above list price, indicating a bidding war with multiple offers. 

Five most competitive markets: 

1. Buffalo

2. Hartford

3. Providence

4. Boston

5. Richmond

Other competitive markets with a lot of engaged home shoppers per listing are Richmond (9.1 engaged home shoppers per listing), Raleigh (8.9), San Francisco (8.4), Portland (8.3) and Sacramento (8.3).

Where are the least competitive markets?

Buyers will have the best shot at being the only bidder on their dream home in the Sun Belt. There are 14 major metro areas with fewer engaged home shoppers per listing than the national average, and 12 of those are in the Sun Belt (the other two are Salt Lake City and Riverside). Buyers have the least competition in Miami, where there are only 2.6 engaged home shoppers per listing.

Five least competitive markets

1. Miami

2. Houston

3. New Orleans

4. Memphis

5. San Antonio

What can sellers in these markets do to maximize views?

In markets like Miami, where sellers are competing to attract the attention of relatively few engaged home shoppers, maximizing eyeballs on a listing is crucial. When sellers list a home on a Multiple Listing Service (MLS) — making it freely available to all buyers and agents — it typically sells for 1.5% more than homes sold off of the MLS. Zillow survey data shows that almost 91% of buyers believe they should be able to see all listings for free, without barriers. This is especially important for buyers in markets that have far more shoppers than listings, like Buffalo and Boston. 

Bringing it home: The big picture

Nationwide, the housing market is becoming friendlier to buyers, despite continued affordability challenges. More sellers than buyers have entered the market so far this spring, causing inventory to rise. Buyers now have more negotiating power than in recent spring seasons, prompting about 25% of sellers to cut their price — a record high for April in Zillow's data. 

As mortgage rates continue to fluctuate, quickly knowing which homes are within a buyer's budget can be a competitive advantage, especially in fast-moving markets. Zillow Home Loans' BuyAbility tool gives buyers a personalized, real-time estimate of the home price and monthly payment that fit within their budget, and it now quickly and clearly shows home shoppers the listings within their BuyAbility. If mortgage rates fall, more homes for sale may appear within a buyer's search on Zillow.