ATTOM’s latest Best Days to Buy a Home Analysis identifies the best days and months of the year to purchase a home. July ranks as the best month, with buyers paying an average 6.3 percent premium above market value, followed by November at 7.4 percent. December 24 ranks as the best individual day to buy.
According to ATTOM’s latest analysis of more than 48 million single-family home and condo sales over the past 10 years, December 24 stands out as the best day to buy a home. Buyers closing on that day pay an average 3.2 percent premium above the automated valuation model (AVM), compared with 14.5 percent on May 27, the highest premium of any day that occurs annually.
The report also states that nationally, July ranks as the best month to buy a home, with a 6.3 percent premium above market value, followed by November (7.4 percent), October (7.8 percent), and September and December (8.2 percent each).
In this post, we dive deeper into the data to identify the top 10 states where buyers see the best time of year to purchase a home based on the median sale price compared with the median automated valuation model (AVM). While some states offer median sale prices below AVM during their best month, others still carry a premium, making these the months when buyers see the largest discount or lowest premium relative to AVM.
Top 10 States
1. Hawaii — January
- Median sale price: $560,000
- Median AVM: $570,046
- Discount/premium: 1.8% discount
2. Michigan — November
- Median sale price: $175,000
- Median AVM: $177,984
- Discount/premium: 1.7% discount
3. Connecticut — January
- Median sale price: $275,000
- Median AVM: $275,000
- Discount/premium: 0.0%
4. Minnesota — December
- Median sale price: $260,000
- Median AVM: $260,000
- Discount/premium: 0.0%
5. Illinois — November
- Median sale price: $211,000
- Median AVM: $210,800
- Discount/premium: 0.1% premium
6. Rhode Island — September
- Median sale price: $350,000
- Median AVM: $349,000
- Discount/premium: 0.3% premium
7. New Hampshire — October
- Median sale price: $340,000
- Median AVM: $339,000
- Discount/premium: 0.3% premium
8. Vermont — February
- Median sale price: $225,000
- Median AVM: $223,845
- Discount/premium: 0.5% premium
9. New Jersey — November
- Median sale price: $355,000
- Median AVM: $352,000
- Discount/premium: 0.9% premium
10. Wisconsin — December
- Median sale price: $210,000
- Median AVM: $207,000
- Discount/premium: 1.4% premium
ATTOM’s annual best days to buy a home analysis calculates the premium or discount paid on a given day, ATTOM compared the median sales price for homes with a purchase closing on that day with the median automated valuation model (AVM) for those same homes at the time of sale. The premium is the percentage by which the median sales price exceeds the median AVM. A negative figure is a discount.
Want to find out when the best time to buy a home in your area is? Contact us to find out how!