Winter is the best time of year to buy a home, offering the biggest bargains to home buyers, a study released last week by ATTOM Data Solutions showed. But in which markets are buyers snagging the best deals this winter? And don’t worry, sellers, the study showed some prime markets for premiums for you, too.
ATTOM researchers analyzed more than 23 million single-family home and condo sales over the past six years. Buyers who are willing to close on a home purchase the day after Christmas are likely to see the largest discounts below full market value compared to any other day of the year, the study showed.
ATTOM researchers pinpointed the following states that often see the largest discounts below full market value in the winter:
- Ohio: –7.4% in January
- Michigan: –7.2% in February
- Delaware: –6.3% in February
- Tennessee: –6.2% in January
- New Jersey: –5.8% in December
- Maryland: –5.6% in December
- Illinois: –5.3% in December
- Hawaii: –5.2% in June
- Pennsylvania: –4.5% in December
- Nebraska: –4.1% in November
Meanwhile, sellers in some states may find winter is the best time to sell for a premium. Home buyers in some states can see higher premiums during the winter months. ATTOM researchers noted those states include:
- New Mexico: 9.8% more in December
- Kansas: 9.3% more in October
- Texas: 6.7% more in December
- Missouri: 6.4% more in October
- Vermont: 5.6% more in December
- Iowa: 3.1% more in October
- Alabama: 1.1% in December
- Virginia: 1% in December
Source: ATTOM Data Solutions
