The shortest month of the year yields the best deals on homes.
In February, the average home sells for 6.1% less than the rest of the year, according to a study released Tuesday by real estate research firm Attom Data, which analyzed closing data for more than 50 million sales over a 16-year period. Homes in February sell for a median of $103.90 per square foot, compared to a median of $110.70 throughout the year. In January and March, the other two cheapest months, they sell for $104.50 and $106.70 per square foot, respectively.
The single best day to close on a home: Feb. 7, where homes sold for more than 12% below average. That’s followed by Feb. 4 and 5. All but two of the top 10 best days to close on a home are in the first half of February.
One reason: There aren’t a lot of buyers looking for homes at this time, but there are plenty of sellers who put their homes on the market early in the year, says Daren Blomquist, the senior vice president of Attom.
Best, and worst, months to get a deal on a home (plus the median price per Nakitbahis square foot discount)
It’s important to note that this data looks at the price paid at closing, so while February yielded the best deals on homes, most likely these buyers put offers on and went into contract on the homes back in January or over the holidays, says Blomquist. That means that the best time to shop for a home is likely over the holidays or in early January, he says. “Look when other buyers aren’t,” he says.
Of course, there may be deals at any time of the year, depending on where you buy — even if it’s in a beach town — and how well you negotiate. And if you pay more to purchase a home in one month versus another, it still may be smarter than renting, as MarketWatch reported in October.
This article originally appeared on Marketwatch.
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