Buying a home in Washington over the holidays can sometimes mean less competition and better negotiating leverage, but the savings depend on the local market, available inventory, and how motivated the seller is. For some buyers, the holiday season creates a real opportunity to make a stronger offer with less pressure from competing bidders.
Less competition and more motivated sellers. Those are just two of the potential perks of buying a home in Washington State over the holidays. And an ATTOM Data Solutions study added a third item to the list. Buyers could also get a better deal on their purchase.
ATTOM Data Solutions published the results of a study into the best days of the year to buy a home. Their report showed that, on average, there are only 10 days out of the year that offer discounts below estimated market value. Seven of those days were in December, and one each during the months of October, November, and February.
The best day of all, for potential discounts? December 24th.
“Buyers and investors willing to start their home search right about when stores are setting up Christmas decorations will face less competition and likely be dealing with more motivated sellers, giving them the upper hand in price negotiations.”
Of course, much of this has to do with the kind of real estate market you’re in. In a more competitive housing market (think Seattle), sellers are generally less likely to come down from their initial asking prices.
But even in the Seattle area, we are starting to see a shift in market conditions. There’s more inventory on the market today than last year, which tilts the scales away from the strong seller’s market conditions of the past.
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Those who make an offer on a home in Washington over the holidays could save money — even in the competitive Seattle real estate market. According to the ATTOM report mentioned above, December 24th stands out as the single best day to buy a home.
But that’s not the only advantage. Having less competition from other buyers is also a good reason to house-hunt through the holidays. And depending on where you live, this could be a huge benefit.
While the number of homes for sale has risen in recent months, the housing supply is still falling short of demand in Washington. This means buyers are competing with each other for limited inventory. During the holidays, however, real estate activity tends to wane. Many buyers shelve their plans until after January 1. So there is often reduced competition — and less stress — for those who attempt to buy over the holidays.
Holiday timing is often most helpful when a listing has been sitting on the market into late December, when a seller has a reason to close before year-end, or when there are enough homes available to give buyers room to negotiate. In those situations, fewer competing buyers can create more leverage on price, repairs, or other terms.
That advantage may be smaller when inventory is very limited or when you are shopping in a highly desirable neighborhood where well-priced homes still attract strong interest. In those cases, buying over the holidays can still reduce competition, but it does not automatically mean a better deal. The key is to judge the specific property, neighborhood, and seller situation rather than assume the calendar alone will produce savings.
To conduct their analysis, the company examined more than 18 million single-family home and condo sales during the five-year period of 2013 to 2017. They then used sales data and automated valuation models to calculate the premium or discount paid on a given day.
If you plan to shop for a home or make an offer during the holiday season, it helps to know your rate range, payment estimate, and financing options before a good listing appears.
Sammamish Mortgage can help. We serve clients across Washington, Idaho, Colorado, Oregon, and California. Since 1992, we’ve been providing several mortgage programs and products with flexible qualification criteria to borrowers across the Pacific Northwest. Visit our website to get an instant rate quote or to use our online mortgage calculator. Or, reach out to us if you are ready to get pre-approved for a mortgage.
They can be. Holiday home buying in Washington may mean less competition from other buyers and more room to negotiate with a motivated seller. Whether it actually leads to savings depends on the local market, the amount of available inventory, and the specific seller’s situation.
It can be both, but not always. ATTOM Data Solutions found that a small number of days each year tend to show discounts below estimated market value, with several of those days falling in December. Even when the price is not lower, reduced competition during the holidays can still help buyers negotiate repairs, closing timing, or other terms.
Some do. Sellers who keep a home on the market through late December or want to close before year-end may be more flexible on price or terms. That said, seller motivation varies by property and market, so buyers should evaluate each situation individually.
Yes. In more competitive markets such as Seattle, sellers are generally less likely to reduce their asking price quickly, especially for well-priced homes in desirable neighborhoods. Holiday timing may help more in markets or neighborhoods with more inventory or with listings that have been sitting longer.
It can be. The article notes that housing supply in Washington still falls short of demand, and holiday activity often slows down. That can mean fewer active buyers, but it may also mean fewer homes to choose from, so the benefit depends on how much inventory is available in the area where you are shopping.
Yes. Buying during the holidays often reduces competition, but it does not eliminate it. In highly desirable neighborhoods or for well-priced homes, strong buyer interest can still show up even in late December.
It tends to help most when a listing has remained on the market into late December, when a seller has a reason to close before the end of the year, or when there are enough homes available to give buyers negotiating leverage. In those situations, fewer competing buyers can improve a buyer’s position.
The advantage may be limited when inventory is very tight or when you are shopping in a highly desirable neighborhood where good listings still attract strong interest. In those cases, the calendar alone does not guarantee a better deal.
Yes. It helps to know your rate range, estimated payment, and financing options before a good listing appears. Getting preapproved can make it easier to act quickly when holiday inventory is limited and timing matters.
Buyers should look closely at the specific property, neighborhood, current inventory levels, and the seller’s motivation. Holiday timing can create an opening, but real savings usually come from matching that timing with the right market conditions and a solid financing plan.
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