This is Black Friday, skip the lines and buy a Boston condo
The stress of buying a Boston condo can be all-consuming, but it doesn’t have to be. With the holiday season in full swing, home buyers looking for a Black Friday deal might want to shop on Thursdays. That’s the day of the week when sellers are most likely to slash their list price, according to new research from Zillow. This fall, a record 28% of sellers had cut their list price, meaning bargain hunters who can afford today’s mortgage rates are more likely to snag a discount.
When Boston condo sellers cut prices, 18.5% of them do so on a Thursday. However, the timing can be slightly different depending on the metro area. For instance, in Philadelphia and Baltimore, price cuts most often happen on Tuesday, while Monday is the best day for deals in Detroit, Cleveland and Buffalo, New York. Buyers nationwide can be sure to see fewer price cuts on Fridays and the weekends when sellers are busy with showings and open houses.
The best time of year for bargains typically runs from the beginning of July to the middle of September. These are often discounts on homes that didn’t find a buyer during the busy spring and summer home shopping seasons. As homes linger on the market past October, it becomes increasingly less likely that their prices will come down.