NEW ATTOM ANALYSIS REVEALS BEST DAY TO BUY A HOME BASED ON LOWEST PREMIUM ABOVE AVM
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Homebuyers closing on this day avoid prices well above market value;
Analysis also shows best months to buy nationwide and by state
IRVINE, Calif., Nov. 28, 2023 /PRNewswire/ — ATTOM, a leading curator of land, property and real estate data, today released its annual analysis showcasing the best days of the year to buy a home, which found that while October continues to offer lower premiums for homebuyers, the single best day to buy a home is in January.
According to ATTOM’s latest analysis of more than 47 million single family home and condo sales over the past 10 years, buyers who close on January 9th are seeing the lowest premium above the automated valuation model (AVM). While still above market value, homebuyers are only paying a 3.8 percent premium, compared to the 14.4 percent premium buyers are seeing on May 28th. (Full methodology is enclosed below.)
2023 Best Days to Buy A Home Infographic
Other days of the year offering lower premiums for homebuyers include: December 4th (4.4 percent premium above market value); October 9th (4.4 percent premium); October 2nd (4.5 percent premium); October 10th (4.5 percent premium); and September 7th (4.6 percent premium).
|
2013 to 2022 Sales of Single-Family Homes and Condos |
|||||
|
Month |
Day |
Number of Sales |
Median Sales Price |
Median AVM |
Premium/Discount |
|
January |
9 |
88,136 |
$ 190,000 |
$ 183,000 |
3.8 % |
|
December |
4 |
128,366 |
$ 218,118 |
$ 209,000 |
4.4 % |
|
October |
9 |
114,032 |
$ 215,000 |
$ 205,930 |
4.4 % |
|
October |
2 |
150,036 |
$ 210,000 |
$ 201,000 |
4.5 % |
|
October |
10 |
99,627 |
$ 210,000 |
$ 201,000 |
4.5 % |
|
September |
7 |
104,402 |
$ 250,781 |
$ 239,700 |
4.6 % |
|
December |
26 |
58,653 |
$ 205,000 |
$ 195,330 |
5.0 % |
|
November |
13 |
134,777 |
$ 217,313 |
$ 207,000 |
5.0 % |
|
December |
24 |
32,573 |
$ 258,990 |
$ 246,408 |
5.1 % |
|
October |
16 |
134,428 |
$ 219,779 |
$ 209,000 |
5.2 % |
ATTOM’s new analysis also looked at the best months to buy at the national level and best months to buy at the state level.
Best Months to Buy
Nationally, the best months to buy are October (6.2 percent premium above market value); September (6.8 percent premium); November (6.8 percent premium); December (6.9 percent premium); and August (7.6 percent premium).
Best Months to Buy by State
According to the study, the states realizing the biggest discounts below full market value are
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