Summer is one of the best times to take advantage of the market as a buyer.
While some seasonality has worked it’s way out of the market, there’s no doubt that the data shows the summer months are optimal for buyers to maximize their buying power.
June historically provides some of the biggest monthly price cuts compared to other months, and combining that with properties that have been on the market for more than 60 days could present some really good opportunities.
The median listing discount of 5% tends to occur between 60-90 days of a property being on the market.
The highest typical discount of 11% tends to occur after about 120 days, however, these types of properties usually require more work or find themselves competing against more desirable layouts, locations, and finishes. That said, diamonds in the rough can certainly be found.
As a buyer, summer is one of your best windows of opportunity!
DISCOUNT VS DAYS ON MARKET
MONTHLY PRICE CUTS
