When you're searching for a home online, you've probably seen them.

Listings that have been sitting on the market for 60 days. 90 days. Sometimes even longer.

Most buyers immediately assume something must be wrong with the property and scroll right past it.

But in today's market, that could be a mistake.

In fact, some of the best opportunities for buyers are often the homes that have been on the market the longest.

Looking for a Better Deal? Start with Older Listings

If affordability has been your biggest challenge, here's a strategy worth considering.

Instead of focusing only on the newest listings, take a closer look at homes that have been sitting on the market for a while.

Why?

Because the longer a home remains unsold, the more likely the seller becomes motivated to negotiate.

According to data from Realtor.com, there is a direct relationship between time on market and price reductions. As the number of days a home sits on the market increases, the percentage of homes receiving price cuts tends to increase as well.

That's good news for buyers.

And right now, there are more opportunities than many people realize.

Redfin reports there are currently more than $347 billion worth of stale listings across the country — the highest level ever recorded for this time of year.

That means some homes that may have been out of reach a few months ago could now be much more affordable.

One simple strategy is to ask your real estate agent to sort listings from oldest to newest. You may discover the home you've been searching for has been sitting quietly on the market waiting for the right buyer.

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

One of the biggest misconceptions buyers have is assuming every home that's been on the market for a while has a major issue.

Sometimes that's true.

But often it isn't.

According to Redfin, homes can sit on the market longer for reasons that have very little to do with the property itself:

  • The home was initially priced too high

  • The listing photos or marketing weren't very effective

  • Inventory increased and the home got lost among competing listings

  • Market conditions changed after the home was listed

None of those reasons necessarily indicate a problem with the house.

And if there is an issue, that's exactly why buyers have inspections. A professional home inspection will help uncover potential concerns and provide valuable information for negotiating.

How Buyers Can Turn a Stale Listing into a Great Deal

If you find a home that's been sitting on the market, you may have more negotiating power than you would with a brand-new listing.

According to USA Today, there are typically two areas where buyers can often gain leverage.

1. Negotiate the Purchase Price

Your agent can review recent comparable sales and determine whether the home is priced appropriately.

If the property has been sitting for an extended period, a below-asking-price offer may be entirely reasonable.

2. Ask for Seller Concessions

Even if a seller isn't willing to reduce the purchase price significantly, they may be willing to help in other ways, including:

  • Paying some of your closing costs

  • Providing repair credits

  • Offering a mortgage rate buydown to lower your monthly payment

  • Covering other buyer expenses

These concessions can create substantial savings and improve affordability.

The Key Is Knowing Which Homes Are Worth Pursuing

Not every lingering listing is a great opportunity.

Some truly do have issues that make them difficult to sell.

That's where having an experienced local real estate agent becomes important.

A knowledgeable agent can help you separate the homes that simply missed the market from the homes that deserve to be avoided.

Bottom Line

Just because a home has been sitting on the market doesn't mean it's a bad home.

In many cases, it may be one of the best opportunities available to today's buyers.

If you're thinking about buying a home in Parker, Castle Rock, Elizabeth, Franktown, Aurora, Highlands Ranch, or the surrounding areas, we'd be happy to help you identify the listings that offer the greatest value and negotiating potential.

Sometimes the best deal isn't the newest listing on the market. It's the one everyone else overlooked.