Time Listed Beats Timing the Market

Deciding when to buy a home can be one of the most challenging decisions for potential homeowners. Many buyers get caught up in trying to time the market perfectly, hoping to purchase at the lowest possible price. However, recent data suggests that time listed on the market can be more critical than timing the market itself.

When trying to decide whether to buy, it’s essential to break down the available data. For instance, homes that have been listed for longer periods often present opportunities for buyers. These properties may have sellers who are more willing to negotiate on price or terms, making it easier for buyers to secure a better deal. Conversely, homes that sell quickly might indicate a hot market where buyers face stiff competition and potentially higher prices.

So, what does this mean for you as a buyer? Focusing on properties that have been listed longer can provide an edge. Sellers of these homes may be more motivated and open to offers below the asking price. Additionally, understanding local market trends and average days on market can help you make informed decisions without getting caught up in the frenzy of trying to predict market highs and lows.

Take, for example, a buyer, I'll name her, Sarah who was looking at two similar homes in her desired neighborhood. One home had been on the market for 90 days, while the other was newly listed. By choosing to pursue the home that had been listed longer, Sarah was able to negotiate a price reduction and secure favorable terms, ultimately saving money and stress compared to competing with multiple offers on the newly listed property.

In conclusion, while it’s natural to want to buy at the perfect moment, focusing on how long a property has been listed can often yield better results than attempting to time the real estate market precisely. By leveraging data on days listed and being strategic in your approach, you can make smarter buying decisions and find your dream home without unnecessary anxiety.