Open up your home search and you’ll notice them right away: homes that have been sitting for 60 days, 90 days, or sometimes even longer.
Most buyers scroll right past without a second thought. "If it hasn’t sold, something must be wrong," right?
But that quick assumption might actually be causing you to miss some of the best opportunities in today’s market.
Where the real opportunity often hides
If affordability has been your biggest challenge, here’s a strategy worth considering: start with the homes that have been on the market the longest.
In many cases, those are the homes where sellers become more open to negotiating.
Data from Realtor.com shows a clear pattern: when homes sit longer, price reductions tend to increase. Simply put, the longer a home is on the market, the more likely a seller may be willing to adjust their price.
And right now, Redfin reports a record amount of inventory that has been sitting on the market. That means more sellers are watching the clock and more opportunities may be available for buyers willing to take a closer look.
Sitting doesn’t always mean something is wrong
A home can stay on the market for several reasons that have nothing to do with its condition:
• It was priced too high from the beginning
• The listing didn’t get enough online exposure
• It got lost among other homes for sale in the area
None of those automatically make it a bad home. And if there is an issue, a professional home inspection can help uncover it. That information can become a valuable negotiation tool rather than a reason to walk away.
How to turn a lingering listing into an opportunity
When a property has been sitting on the market, you generally have two strong negotiating tools:
Price
Review recent comparable sales and build your offer around current market value rather than just the asking price.
Seller concessions
If the seller isn't willing to lower the price significantly, they may be willing to help with closing costs, repairs, or even a mortgage rate buydown that could lower your monthly payment.
This is where working with a knowledgeable local agent can make all the difference. They can help identify which homes are worth a second look and which ones may not be the right fit.
Bottom Line
A home sitting on the market isn’t always a red flag. Sometimes it’s simply an opportunity waiting for the right buyer.
The best deal in today’s market may not be the newest listing. It could be the one that’s been there all along, just waiting for someone to take a closer look.
