Could the Best Deal on the Market Be the Home Everyone Else Is Ignoring?
When buyers start their home search, it’s easy to overlook listings that have been sitting on the market for weeks—or even months. Many assume there’s something wrong with the property. But in today’s market, that assumption could mean missing out on a great opportunity.
In fact, some of the best values can be found among homes that have been on the market longer than expected.
Why Longer Market Time Can Work in a Buyer’s Favor
As a listing sits, sellers often become more motivated to make a deal. That can lead to price reductions, closing cost assistance, repair credits, or other concessions that make homeownership more affordable.
Recent market data shows a strong connection between longer days on market and an increased likelihood of price reductions. Simply put: the longer a home sits, the more negotiating power buyers may have.
A Home Isn’t Always Sitting Because Something Is Wrong
There are plenty of reasons a home may not sell right away, including:
- The home was initially priced too high
- The listing photos or marketing didn’t showcase the property well
- Increased inventory caused the listing to get buried among competing homes
In many cases, there’s nothing wrong with the home itself. A professional home inspection can help uncover any concerns and provide valuable information during negotiations.
How Buyers Can Take Advantage
If you’re looking for ways to maximize your budget, consider asking your agent to sort listings by the oldest on the market first.
When evaluating these opportunities, focus on two key negotiating tools:
Price: Review comparable sales and submit an offer based on current market value—not necessarily the asking price.
Seller Concessions: If the seller isn’t willing to lower the price significantly, they may be open to covering closing costs, offering repair credits, or helping buy down your mortgage rate.
The Bottom Line
A home that’s been sitting on the market isn’t always a red flag. In many cases, it could be one of the best opportunities available to buyers today.
If you’re searching for a home and affordability is top of mind, don’t overlook the listings everyone else is scrolling past. The right home—and a great deal—may be waiting further down the list.