Have you ever considered that the day of the week that you purchase your home in Tallahassee can have an effect? You’ll actually save money by buying on a certain day of the week and this is something that home buyers should really know about. It may sound strange that a certain day of the week affects your purchase price or the price at all for that matter, but it’s true.
How would anyone know that a certain day of the week matters at all? When looking at the Tallahassee market, it’s clear to see that various days in the week will ultimately affect the price, where most homes are sold on Mondays and Fridays with very few sold on Saturdays and Sundays, making it important to buy when others are not.
Most people are looking at the home on the weekend and then making the decision during the week, which means you are wise to get in on the sale on a Friday when people are still anticipating looking at homes the next day. Take a look at why Friday is the best day of the week to buy in Tallahassee for your next home.
Day of the week selling patterns for Tallahassee
If you take a look at the Tallahassee market, it can be pretty comparable to normal buying patterns around the country. Looking at the selling pattern over the last decade or so, the patterns show that most people in Tallahassee are purchasing during the weekdays with the highest amount of sales on Fridays followed by Monday, Wednesday, Tuesday, and Thursdays.
The least amount of sales is happening on Sundays with Saturday just slightly higher than Sunday. Typically Fridays and Mondays see just over 600 successfully signed real estate deals with Tuesday through Thursday having between 500 and 600 closed contracts, and the weekends fall between 200 and 350 signed contracts.
The reasons behind the variations
You may be wondering why sales are happening mostly on weekdays when most people are looking at homes on the weekends. How is it that Friday is the highest sale date when most people are touring homes on the weekend, sleeping on it, and making the decision in the early part of the week? You may have thought the weekend would rank highest or that Monday would rank highest after a couple slept on their decision after viewing a great home.
When typically happens it hat inexperienced buyers will tour a home on the weekend, which is not as wise as touring on a weekday. People are all going to prefer a weekend tour because that is when it is most convenient in the schedule, but wise shoppers will tour during the week and make their offer before the weekend.
By going against the typical consumer, you will increase your chance of getting the home you want and getting the price you want. Serious shoppers will use the typical trends to their advantage by doing the opposite.
What you should be doing
If you want to shop like an experienced buyer, you should avoid looking at houses on the weekends with inexperienced real estate agents because you’ll likely find something great and make your offer on Monday but it won’t be finalized for another four days. Instead, be competitive and think about what other interested buyers might be doing so that you can do better. Most other buyers would submit their offer on Monday while going through a bidding war during the week while you are wise to make your offer on Fridays. Why Friday?
Don’t submit an offer on Monday after viewing on the weekend like your competition; submit your offer on a Friday. While this isn’t a one-size-fits-all plan seeing that properties hit the market on various days of the week, this is a great plan in general.
In fact, submitting an offer on the day it hits the market is even better if a house is priced to sell. Submit an offer on Fridays and include a short acceptance period in order to try to have it under contract before the weekend is over. The reason this will cost you less money is that the right buyer’s agent will make sure you get the contract and will help you avoid going through a negotiation process.
Since the weekends have such low amounts of offers, you are wise to use this to your advantage too. Whenever you know what everyone else is doing, you can use that info to make sure you do the opposite and have the advantage.
Consider buying a house on Fridays, the day it hits the market, or the weekends in Tallahassee if you want to increase your chance of getting the best price and least competition.