Winter Is The Best Time To Buy A Home

11/29/2019
ATTOM Data Solutions

IRVINE, CA -- ATTOM Data Solutions, curator of the nation's premier property database and first property data provider of Data-as-a-Service (DaaS), today released its annual analysis of the best days of the year to buy a home, which shows that only three days of the year offer discounts below estimated market value — all falling in the month of December.

                          
 

According to the analysis, buyers willing to close on a home purchase the day after Christmas realize the biggest discounts below full market value of any day in the year. This analysis of more than 23 million single family home and condo sales over the past six years is evidence of the continuation of a hot sellers' market (see full methodology below).

"Closing on a home purchase the day after Christmas or on New Year's Eve can be one of the most financially beneficial holiday-season gifts you can get," said Todd Teta, chief product officer with ATTOM Data Solutions. "While lots of folks are shopping the day-after Christmas sales or getting ready to ring in the New Year, our data shows that buyers and investors are buying homes on those days at a discount. That's a far cry from buying during June, when they are likely paying about a 7 percent premium."

2013 to 2018 Sales of Single Family Homes and Condos

Month

Day

Number of Sales

Median Sales Price

Median AVM

Premium/Discount

December

26

36,102

$ 195,500

$ 196,000

-0.3%

December

31

64,515

$ 190,000

$ 190,270

-0.1%

December

4

73,064

$ 195,000

$ 195,151

-0.1%

Winter is Coming...Time to Buy Infographic

  

 
Best Months to Buy
The analysis also looked at best months to buy at the national level (December) and at the state level.

Nationally, while December is considered the best month to buy overall, there is still about a 1.2% premium. However, you can expect to pay higher premiums if you plan on purchasing in the summer, with the month of June having the highest premium at 7.1%.

The states realizing the biggest discounts below full market value were Ohio (-7.4% in January); Michigan (-7.2% in February); Delaware (-6.3% in February); Tennessee (-6.2% in January); and New Jersey (-5.8% in December).

View Count 94
Little Passports