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October is best month to find home deals in major U.S. metros
Redfin says discounts from original asking prices, via price cuts or negotiations, tend to peak in early to mid-October depending on the metro.
Redfin, via its Home Economics analysis of housing market data, says October is the best time for homebuyers to score a deal across 16 major U.S. metro areas, with the timing varying by market.
Early October is described as prime dealmaking season for buyers in Boston, Chicago, Minneapolis, New Brunswick, New Jersey, and Orlando, Florida. In other places, including Philadelphia, Phoenix, and much of Ohio, Redfin finds the strongest bargains typically arrive in mid- to late October.
Redfin Senior Economist Asad Khan attributed the seasonal pattern to fall pressures on sellers after Labor Day, noting that sellers who list over the summer may be more open to price reductions or concessions once that period passes. The analysis also points to a seasonal “sweet spot” when discounts off a home’s original asking price through price cuts or negotiations are typically near their highest.
In New Brunswick, described as a balanced market, Redfin says homes are still competitive, with the outlet citing reports from its agents that well-priced, move-in ready homes in North and Central New Jersey are getting multiple offers. Redfin agent Natasha Bartolomeo said October can give buyers more negotiating leverage, but emphasized buyers still need to move before that leverage disappears, while balancing choice from increased inventory against competition that can require stronger offers.