How to Find the Best Deals on Homes in Today’s Market
Finding a great deal in today’s housing market might feel challenging, but there’s a strategy many buyers are starting to use.
Instead of competing for newly listed homes, more buyers are focusing on properties that have been sitting on the market longer.
Why? Because those homes often come with more negotiating power, price reductions, and motivated sellers.
How Can Buyers Find the Best Deals on Homes?
Buyers can find the best deals on homes by targeting listings that have been on the market longer, have had price reductions, or show signs of motivated sellers. These properties typically come with less competition and more room to negotiate.
The Hidden Opportunity Most Buyers Overlook
According to Realtor.com, about 20.2% of listings have had at least one price cut this year.
That means roughly 1 in 5 homes has already been discounted, creating opportunities for buyers who know where to look.
Based on recent housing data, this trend is happening across many markets, giving buyers a real chance to find better value without increasing their budget.
Why Homes That Sit Longer Can Mean Better Deals
When a home stays on the market longer than expected, sellers often begin to adjust their expectations.
They may:
Lower their asking price
Offer concessions
Become more flexible during negotiations
And because many buyers overlook these listings, competition tends to be lower.
That creates a unique opportunity.
As Realtor.com explains:
“Less competition means fewer bidding wars and more power to negotiate the extras that add up: closing cost credits, home warranties, even repair concessions. These concessions can end up knocking thousands of dollars off the price of a home.”
Timing Can Also Work in Your Favor
Market timing can also play a role in finding better deals.
According to Bankrate:
“During the quieter fall and winter months, when fewer prospective buyers are shopping, home sellers may be more willing to lower their prices or offer concessions.”
Buyers who stay active when others pause their search often gain an advantage.
The Data Shows a Clear Pattern
There is a consistent trend in the housing market. Homes that stay on the market longer are more likely to sell below their original asking price. Data from the National Association of Realtors shows that the longer a home sits, the more likely it is to sell at a discount.
Even Small Discounts Can Add Up
Paying slightly below the asking price might not seem like a major win at first. But when applied to the median home price, the savings can be substantial. For example, buying a home at around 94% of the original asking price could mean saving roughly $24,000.
As Zillow notes:
“If you’re a buyer who is hoping to strike a deal, look for homes that have been on the market for a while and that may already have lowered prices to entice buyers.”
What This Means for Buyers in Chicago
In Chicago and surrounding neighborhoods, buyers are starting to see more listings stay on the market longer compared to recent years.
This creates opportunities to negotiate, especially on homes that have already reduced their price or received less initial interest.
Buyers who focus on these listings often have more leverage compared to those competing for newly listed homes.
Where to Find the Best Deals Right Now
If you're actively searching, here’s where to focus:
Homes with recent price reductions
Listings with longer days on market
Properties that have come back on the market
Homes listed during slower seasons
These are often the listings where buyers can negotiate the best terms and pricing.
Talk to Our Team About Finding the Best Deals
If you're looking to buy and want to get the most value for your money, having the right strategy can make all the difference.
Our team can help you identify homes with price reductions, spot motivated sellers, and negotiate the best possible deal.
Contact us today to start your home search with a smarter approach and uncover opportunities other buyers may be missing.
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Ranked among the top 1% of real estate teams in the Chicagoland market, Cory Tanzer and the Cory Tanzer Group are experts in helping buyers and sellers navigate today’s market across Downtown Chicago, the North Shore, and the Western Suburbs. Recognized for their neighborhood expertise in areas such as University Village, University Commons, South Loop, and Pilsen, the team helps clients stay one step ahead by understanding where the Chicago market is headed next.
