That House That’s Been Sitting Could Be Your Best Shot at a Deal

Open up a home search and you’ll notice them right away—homes that have been listed for two, three, or even more months.

Many buyers skip over these properties, assuming there must be an issue. But that assumption could mean missing out on a great opportunity. In many cases, the longer a home stays on the market, the more willing the seller may be to negotiate, creating potential advantages for buyers.

Where Some Buyers Are Finding Better Deals

If affordability has been the biggest obstacle keeping you from buying a home, there’s a simple strategy worth considering: focus on listings that have been on the market the longest. Those homes can often present some of the best opportunities for buyers.

Here’s why. According to data from Realtor.com, homes that spend more time on the market are more likely to sell for less than their original asking price. In many cases, sellers become more open to price reductions and negotiations the longer their property sits unsold, creating potential savings for buyers.

The blue line represents how long homes are staying on the market, while the green line shows the percentage of listings that have had a price reduction. As one rises, so does the other.

That means homes that have been sitting on the market may offer more opportunity than many buyers realize.

According to Redfin, there are currently about $347 billion worth of stale listings on the market—more than at any other point during this time of year. That’s why it can be worthwhile to ask your agent to sort listings from oldest to newest. The home that fits your needs and budget may already be available; it just might be buried further down the list.

A Longer Time on Market Doesn’t Always Mean There’s a Problem

If a home catches your attention but has been listed for a while, don’t automatically assume something is wrong. In many cases, the reason has little to do with the condition of the property.

Redfin points to several common reasons homes linger on the market:

• The home was initially priced too high

• The online photos or marketing didn’t showcase it effectively

• There is a larger inventory of homes in the area, causing the listing to get overlooked

None of these are necessarily dealbreakers. And if there is a legitimate concern with the property, a professional home inspection will help uncover it. That information can often be used as a negotiating tool rather than a reason to dismiss the home altogether.

The bottom line: don’t overlook homes simply because they’ve been on the market longer. They could offer more value, greater negotiating power, and a better opportunity than you expect.

How To Turn a Lingering Listing into a Win

So how do you capitalize on a lingering listing? According to USA Today, you have two main levers to pull.

The first is price. Work with your agent to study what comparable homes recently sold for, then build an offer around that. Coming in below asking price is fair game when a home has been sitting.

The second is concessions. If a seller won’t budge much on price, they may still help in other ways, like covering some closing costs, repair credits, or even a mortgage rate buydown that lowers your monthly payment.

A local agent has the context to tell which homes are the real opportunities and which are skippable.

Bottom Line

A home that’s been on the market for a while isn’t always a warning sign. In today’s market, it could be one of the best opportunities for buyers looking to maximize their budget and gain negotiating power.

If you’re wondering which long-standing listings are worth a closer look, connect with a local real estate professional. An experienced agent can help you identify hidden gems, evaluate potential concerns, and determine whether a property is truly a smart investment.