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NFL cities offer late-season housing deals amid competitive market

Insurance Rate Reporter / 10 hours ago

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Scott Bedard SVP, Engineering | realtors.com

The optimal time for homebuyers to secure a deal may have passed, but opportunities still exist in certain markets. Typically, the best period to purchase a home is from September 9 to October 5, following the summer peak. During this time, buyers can save an average of $14,000 on a median-priced home of $445,000.

"Nationwide, we're in the 'almost' best time to buy where listings are usually somewhat scarcer than in the best week, but otherwise buyers are still in a good position," states Realtor.com economist Danielle Hale.

Currently, three cities present favorable conditions for homebuyers: San Francisco; Kansas City, MO; and Baltimore. The prime buying window in these locations is from October 13-19. This extended period results from market data showing similar buyer favorability over several weeks.

"The first three weeks in October were almost evenly matched in buyer favorability at the national level," explains Realtor.com economist Hannah Jones. "These three metros fell on the later side but are still aligned with a top-three national week."

Local real estate agents suggest that sellers in these areas might be more willing to negotiate as they aim to close deals before year-end. "Sellers are becoming more negotiable on their prices as we slowly march towards the end of the year," says California real estate agent Cara Ameer.

Interestingly, all three cities have strong NFL teams: San Francisco 49ers, Kansas City Chiefs, and Baltimore Ravens. This connection might increase interest among potential buyers who are also football fans.

"Increased national attention on these cities could drum up some extra home-shopper attention," acknowledges Jones.

In San Francisco, with a median list price of $1.6 million and a discount of 6.9% this week compared to peak prices, buyers can find significant savings. Kansas City offers homes at a median price of $275,000 with discounts averaging 7.9%. In Baltimore, where homes are listed at a median price of $220,000 and discounts reach 5.6%, affordability is notable.

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