Open up a home search and you’ll see them. Listings that have been on the market for two months. Three. Some longer.

Most buyers scroll right past them, assuming something’s wrong with the house. But that instinct could be costing you, since the longer a home sits, the more motivated the seller usually gets.

Where Some Buyers Are Finding Better Deals

If affordability has been your #1 hurdle to buying, here’s a surprisingly simple strategy that could help you finally get your foot in the door. Start with the homes that have been sitting the longest. That’s often where the best deals are.

Here’s why. Data from Realtor.com shows there’s a connection between longer time on the market and lower sales prices. Basically, the longer a house sits, the more likely it is that the seller will reduce the price (see graph below):

The blue line tracks how long homes stay on the market, while the green line tracks the share of homes getting a price reduction. As one climbs, so does the other.  

And if you focus on these homes that are just sitting and waiting, the opportunity for you is bigger than you may think right now.

Redfin data shows there’s $347 billion worth of stale listings on the market right now – more than ever before for this time of year. So, ask your agent to filter listings for you from oldest to newest. The home that fits your budget might already be there. Just further down the list than you thought.

Lingering Doesn’t Always Mean Something’s Wrong 

Let’s say you do that and something catches your eye. Still, you might be questioning why the home has been sitting in the first place. Just remember, sometimes it has nothing to do with the home itself.

According to Redfin, common causes are:

• The asking price was set too high to start

• The home didn’t show well online

• There are a lot of homes for sale in the area, so it just got buried

So, nothing that’s necessarily a dealbreaker, or even anything that’s wrong with the home itself. If there’s a real issue, a thorough inspection will surface it. And that’s information you can use to negotiate. Not a reason to assume it’s a house worth skipping over.

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 house sitting on the market isn’t always a glaring red flag. In today’s market, it may be your best opportunity yet.

For help deciding which lingering listings are actually worth a second look, connect with a local real estate agent.

Whether you’re dreaming about buying your first home or wondering if it’s time to move on from the one you’re in, affordability is probably weighing on your mind. Home prices are still high in many markets, and even though things have improved a bit over the past year, making the numbers work can still feel like a stretch.

But the people finding ways to move right now usually have one thing in common. They didn’t wait for affordability to come to them. They went looking for it.

According to PODS, 61% of people across all generations say affordability is the biggest factor when deciding where to move. And it’s led a growing number of people to do one thing – broaden their search to include more affordable areas they hadn’t seriously considered before. As PODS, put it:

“. . . moving is increasingly driven by affordability, connection, and quality of life. As economic pressures persist, Americans are taking a more intentional, values-driven approach to where they choose to live.”

It’s Not Just the Home Price – It’s the Whole Cost of Living

Here’s where it gets really interesting. When people talk about moving for affordability, they’re not just talking about finding a cheaper house. They’re thinking about the full picture. What does it actually cost to live somewhere?

WalletHub looked at exactly this, measuring housing costs as a share of median monthly household income across every state (see map below).

Take a look at where you live on that map. The lighter the blue, the more affordable it generally is to live there. The darker the blue? Just the opposite.

If your state is showing up on the darker blue end of the scale, the cost of living may be putting a real pinch on your wallet, and it may be worth exploring what a lighter-blue area could mean for your finances.

Because if you’re less financially stretched, imagine how that could change things. Less stress. Less worry. More freedom and peace of mind.

You Don’t Have To Move to Another State To Find a Better Deal

But finding more affordable homeownership doesn’t have to mean a cross-country move. It doesn’t even have to mean leaving your state, your family, or your favorite coffee shop behind.

Every market has more affordable pockets that most buyers never think to explore – neighborhoods, towns, and communities where home prices are lower, property taxes are more manageable, and the overall cost of living just works better.

A great local real estate agent knows exactly where those places are.

And if you work remotely, or have any flexibility in where you’re based, your options open up even further. Remote work has already changed the way millions of people think about where to live, and that trend isn’t going away.

When location stops being tied to a daily commute, a more affordable area that’s a bit farther out suddenly becomes a very real option.

Bottom Line

Affordability is a real challenge, but it’s not an unsolvable one. The key is being open to places you might not have considered before. A local real estate agent can help you find them.

Ready to find out which areas have the best affordability right now? Reach out today.

You started shopping with a specific mental image of your future home in your mind. Then the houses in your budget came in smaller than you pictured.

That’s the reality for a lot of buyers right now. Affordability is tight.

But don’t let that discourage you. Going smaller might actually be a smart play in today’s market – and the upside can be bigger than you’d think. Let’s break down two places to look where smaller won’t necessarily feel like a compromise.

Homebuilders Are Focused on Smaller Options Lately

For starters, smaller is kind of on trend right now. Newly built homes have been shrinking for years. According to the latest data from the Census, the median square footage of new single-family homes has been falling overall since 2014 (see graph below):

Why? Builders focus on the types of homes consumers want the most. After all, they want to build what will actually sell. And for the past decade, buyers seem to agree less is more.

Especially right now, when affordability is a key concern, they’re building homes with smaller square footage than a decade ago. And that’s good because that may be more within budget for many buyers. It’s part of why new home prices recently hit a 5-year low.

So, if you’re not getting excited about any of the existing options at your price point, it may be time to check out what builders are doing in your area.

You may find brand-new options you really love with all the latest and greatest features. And if you’ve got modern appliances and design, maybe slightly less square footage doesn’t feel like that much of a compromise anymore, especially if the house is move-in ready.

Condos Are Opening Up Another Path

Just in case you don’t have a ton of new builds in your area, another avenue worth exploring is condominiums or condos.

For buyers crunching numbers to make the math work, condos can take real pressure off the budget. According to the National Association of Realtors (NAR), the median price for condos is less than the median for single-family homes in every region (see graph below):

Part of that is because condos are typically smaller. And smaller square footage can come with a smaller price tag too. That’s a selling point to affordability-strapped buyers right now – and it’s one of the reasons we’re seeing a bump in condo sales.

The number of condos sold rose 2.7% from just a month ago. It’s also up year over year, according to NAR. Ali Wolf, Chief Economist for New Home Source, explains why more buyers are going this route:

“In addition to favoring smaller floor plans, more consumers are showing a willingness to live in an attached home. This shift is not driven by a preference for shared walls, but by a pursuit of value.”

The Community Does Some of the Heavy Lifting

Here’s why smaller may still work for you. Whether it’s a condo complex or a neighborhood of detached single-family homes, the right community can give you back in amenities what you trade in square footage.

Many developments are designed so the home is just one piece of where you actually spend your time. Master-planned communities often include walking trails, pools, fitness centers, co-working spaces, and outdoor gathering areas – the kind of features that pick up where your floor plan leaves off.

No room for a dedicated office? The co-working space might be just a five-minute walk away. Want a place to work out? It’s already built in with the shared gym. And features like that can make opting for a smaller footprint feel less like a compromise – and more like a big lifestyle upgrade.

Bottom Line

Today’s smaller single-family homes and condos have more going for them than the square footage suggests. They can give your budget some breathing room and put you in a community designed with lifestyle in mind.

Curious about the options in your area? Connect with a local real estate agent to walk through what’s available.