According to Realtor.com’s Best Time to Buy Report, between Sept 12 and Oct. 17 is the best time to sell a home in most markets. Optimal homebuying conditions begin this week in Boston, as well as New York, Los Angeles, Detroit, Minneapolis and Portland, Ore.
Oct. 3-9 is prime time for Houston homebuyers, who can expect to see 5% more active listings than the average week.
Eighteen other markets won’t see prime selling season until the week of Oct. 3, when they can be expected to find 7% more active listings than the average week.
Helping your buyers purchase a home during a market’s optimal selling time can be a game-changer, especially coming off the historical market that COVID brought this year, according to the report.
“Home prices peaked in the summer, and new listings continue to come on the market, helping slow the pace of sales — which is good news for homebuyers,” Realtor.com chief economist Danielle Hale said in a release. “As families across the country focus on getting back into school routines, there are fewer buyers in the market, creating a great opportunity, especially for first-time homebuyers to make a purchase with somewhat less competition.”
With more inventory to choose from, buyers will have more choices than they’ve seen in recent months and face 18% less competition. Their wallets will also benefit, as prices dip, and they could save 2.6%, or $10,000, from the seasonal high, according to the report. And with homes selling at a slower pace, buyers gain an average of seven extra days to consider their purchases.