RALEIGH – Nationally, if looking for a deal on a house or other residential property, the best month of the year to buy is October, a new analysis from ATTOM Data Solutions reveals.  And another report says the best week for buyers in Raleigh is coming soon.

A study from Realtor.com identified that the best days to buy property in Raleigh falls between October 17 and October 23.  The analysis found a potential differential of -4.1% in median listing price compared to peak listing price in the market.

That’s a bit of good news for people looking for a new place to call home in a Triangle market where housing prices have soared since the COVID-19 pandemic began in March 2020.

“Nationally, the best time to buy in 2021 is the week of October 3-9.  This week historically has shown the best balance of market conditions that favor buyers,” the summary of the Realtor.com study reads.  “Inventory tends to be high, prices are below peak levels, demand is waning, and pace of the market slows to a more manageable speed.”

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Other winter months are a good time to buy, the report also found.

Other study differs

But in North Carolina, the best month to close on a residential purchase is January, according to the ATTOM analysis.  The second and third best month to buy property in North Carolina were October and November, and the fourth best month is December.

“This analysis of more than 33 million single family home and condo sales over the past eight years is evidence of the continuation of a hot sellers’ market,” a spokesperson for ATTOM Data Solutions told WRAL TechWire.

The analysis identified regional variances as well.

Nationally, October was the month where homebuyers received the best deal, as measured by the relationship between the median sales price for homes on the day the transaction closed and the median automated valuation model for those same homes at the time of the sale. Across the country, the price premium was 2.9% for October.

In North Carolina, there was no price premium in October and November.

But in January, the analysis found, buyers in North Carolina enjoyed a price premium of -0.6%, the best monthly deal.  The data showed that the median sale price was $161,000 and the median automated valuation model (AVM) was $162,000.

Compare that to May, when properties in North Carolina had a median automated valuation model of $172,128 and the median sales price was $182,500, a 6% price premium.

As the analysis looked at any calendar day between 2013 and 2020 with at least 10,000 sales, measuring 362 days, including leap days during leap years, the study identified the best days to buy property.  The days that were not included in the analysis were New Year’s Day, Independence Day, Veterans Day, and Christmas Day.

According to the analysis, 92 of the 100 best days to buy residential property fell in the time between October 1 and January 31, and December 5 was the best day to buy a property nationwide, with an average price premium of 1.6%.

The two days with the highest price premium paid is May 23 and May 27, each with price premium of 17.4%.

ATTOM Solutions did not share daily sales data for North Carolina transactions.