One Smart Way to Find Better Home Deals
TL;DR
One of the best ways to uncover real savings in today’s housing market is by looking at homes that have been sitting on the market longer. As days on market increase, sellers often become more flexible creating opportunities for buyers to negotiate better prices, concessions, and overall value.
Why the Best Deals Aren’t Always the Newest Listings
When most buyers search for a home, their attention naturally goes to the newest listings. Fresh homes feel exciting, competitive, and desirable. But that focus can cause buyers to overlook where some of the best opportunities actually exist.
Homes that have been on the market longer often hold untapped value. Time changes the dynamics of a sale. When a property first hits the market, sellers are usually confident in their price and terms. They expect strong interest and may not feel pressure to negotiate. As weeks pass without an offer, expectations often shift.
This doesn’t mean something is wrong with the home. In many cases, it simply means the seller priced ambitiously, the timing wasn’t ideal, or the home needs the right buyer to recognize its potential.
How Time Creates Leverage for Buyers
The longer a home sits on the market, the more leverage buyers tend to gain. Sellers may start thinking about carrying costs, upcoming moves, or the emotional toll of waiting. That’s when flexibility enters the conversation.
Flexibility can show up in many ways: price reductions, willingness to negotiate, seller-paid closing costs, or acceptance of offers that may have been rejected earlier. These homes often have fewer competing buyers, which allows for calmer, more strategic negotiations.
Data supports this shift. Homes that linger on the market typically sell for less than their original asking price. Even when a home sells for about 94% of its list price, that difference can be substantial. On a median-priced home, that discount can be roughly $24,000 real money that can significantly impact a buyer’s budget.
Why These Homes Are Often Overlooked
Many buyers assume that if a home hasn’t sold quickly, there must be a major issue. While that can sometimes be true, it’s far from a rule. Often, the reason a home sits is something relatively simple: outdated finishes, staging issues, marketing limitations, or a price that didn’t initially align with the market.
For buyers who can look past surface-level concerns or are open to light cosmetic updates, these homes can represent excellent value. Paint, flooring, fixtures, and landscaping are all things that can be changed over time. Location, lot size, layout, and long-term livability cannot.
Stretching Your Budget Without Overstretching Yourself
Focusing on homes with longer days on market is a smart way to stretch your budget without taking on unnecessary risk. Instead of competing aggressively for new listings, buyers can redirect their attention to properties where negotiation power already exists.
This strategy can help buyers stay within budget, preserve savings, and potentially afford homes that may have felt out of reach when first listed. It’s not about settling it’s about shopping strategically and recognizing opportunity where others may not be looking.
Why Guidance Matters With This Strategy
Not every home with extended days on market is a good deal. Understanding why a home hasn’t sold is critical. This is where working with a knowledgeable local agent makes a difference. An experienced agent can evaluate pricing history, market conditions, and seller motivation to help buyers identify which listings are true opportunities.
With the right guidance, buyers can turn patience into purchasing power—and uncover savings that aren’t immediately obvious.
Frequently Asked Questions
Q: How can buyers find the best deals on homes in today’s market?
A: One of the most effective ways is by focusing on homes that have been on the market longer. As days on market increase, sellers often become more flexible on price and terms, creating opportunities for buyers to negotiate better overall value.
Q: Is buying a home that’s been sitting on the market a smart strategy right now?
A: Yes. Homes with longer days on market typically come with less competition and more room for negotiation. Buyers can often secure price reductions, seller concessions, or favorable terms that aren’t available on newly listed homes.
Q: Do homes that stay on the market longer usually have problems?
A: Not necessarily. Many homes linger due to ambitious pricing, timing issues, or cosmetic concerns like outdated finishes or staging. These factors don’t always reflect the home’s true condition or long-term potential.
Q: How much can buyers really save by targeting homes with longer days on market?
A: Data shows that homes sitting longer often sell for less than their original asking price. Even a sale at 94% of list price can translate to significant savings—sometimes tens of thousands of dollars—depending on the home’s price point. Buyers who want to explore these opportunities can benefit from professional guidance to identify the strongest options.
Q: Why should buyers work with an agent when using this strategy?
A: Not every home with extended days on market is a good deal. An experienced local agent can analyze pricing history, seller motivation, and market conditions to help buyers distinguish true opportunities from listings that may carry hidden risks.
By Alex Parmenidez, REALTOR® | Coldwell Banker Realty
Alex Parmenidez | Realtor® Licensed CT-MA-RI | Coldwell Banker Realty
196 Waterman St, Providence, RI 02906
C: (401) 426-4825 | O: (401) 351-2017
Check out this article next
¿Qué Temporada Puede Jugar a Tu Favor?
La “mejor” temporada en bienes raíces depende de tus objetivos. Cada época del año ofrece ventajas únicas para compradores y vendedores
Read Article