There are so many moving pieces inherent in the process of buying a home, in Nashville or anywhere else — your financial situation, your job, your kids’ school schedules, deferred maintenance on a home you need to take care of before you sell… Ultimately, the best time to buy a home in Nashville is when you can line everything up as best you can, for your family and your needs.
That said, national property database wranglers ATTOM Data Solutions dug deep into their numbers, and found that, if you go by trends, there are particular days and months that tend to get homebuyers the best deals, all across the country, including here in Tennessee.
And it might surprise you: Although most people tend to think of winter as the least opportune time for real-estate moves, a) home inventory in Nashville is strong right now, and b) ATTOM’s Data shows that the coming weeks are the hottest times for home deals.
“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,” said Daren Blomquist, ATTOM Data Solutions senior vice president, “giving them the upper hand in price negotiations.”
What the home-deals data shows
To come up with a list of the best days to buy a home, if you’re looking for the best discounts, ATTOM Data Solutions dug through single-family home and condo sales across the U.S. every day for five years, 2013 to 2017, and focused in on days that showed at least 10,000 total sales. With 362 days that fit the bill, they compared a median automated valuation model for each home with the median sales price for homes closing on that same day.
With the numbers crunched and compared, here’s what they came up with:
It might not feel like the most convenient option to close on a home the day after Christmas, but it seems to have its benefits — as do many other days in December.
On the whole, as ATTOM broke down which months were the best times to buy a home — nationally, and statewide — December emerged as the best month to buy a home in Tennessee, with buyers seeing a 6.8 percent drop below full market value, according to ATTOM data.
Feeling inspired to strike while the biggest home-buying discounts might be on the holiday-season table? We’d love to help you find a Nashville home that fits your needs and your budget. Check out some homes for sale in Nashville here, and reach ACRE here.