IRVINE, Calif., Oct. 7, 2021 /PRNewswire/ — ATTOM, curator of the nation’s premier property database, today released its annual analysis of the best time of the year to buy a home, which shows that the month of October, as well as the winter months, offer homebuyers the best deals – fetching lower premiums than other months of the year.
According to the analysis, buyers who close in October will get the best deal compared to the spring buying season. While the premium is still above market value, homebuyers are only dealing with a 2.9% premium, as opposed to the month of May, when homebuyers are experiencing an 11.5% premium. This analysis of more than 33 million single family home and condo sales over the past eight years is evidence of the continuation of a hot sellers’ market (see full methodology below).
|2013 to 2020 Sales of Single-Family Homes and Condos|
|Month||Number of Sales||Median Sales Price||Median AVM||Premium|
|October||2,995,387||$ 210,000||$ 204,000||2.9%|
|December||2,681,413||$ 212,000||$ 205,036||3.4%|
|November||2,523,575||$ 211,875||$ 204,000||3.9%|
|January||2,068,122||$ 187,500||$ 180,468||3.9%|
|February||1,984,843||$ 187,500||$ 178,000||5.3%|
|September||2,957,165||$ 213,500||$ 201,000||6.2%|
|August||3,319,970||$ 216,000||$ 203,000||6.4%|
|March||2,602,885||$ 197,000||$ 185,000||6.5%|
|April||2,730,574||$ 201,286||$ 187,000||7.6%|
|July||3,325,150||$ 219,000||$ 201,300||8.8%|
|June||3,308,640||$ 217,000||$ 199,000||9.0%|
|May||3,025,737||$ 209,000||$ 187,374||11.5%|
The analysis also looked at the best days to buy at the national level (December) and best months to buy at the state level.
Best Days to Buy
Nationally, days that fall in December offer the lowest premium for homebuyers. With December 5th seeing a 1.6% premium, December 26th a 2% premium, January 6th a 2.2% premium, November 9th a 2.3% premium and December 31st a 2.4% premium. A far cry from the month of May, where May 23rd and 27th offer a 17.4% premium, May 20th a 16.6% premium, May 16th a 15.6% premium and May 19th a 15.4% premium.